Refinancing activity in the US just plunged to the lowest level in over a decade

Reuters Refinancing activity plunged to the lowest level since 2000. Refinancings decline when interest rates rise. Rising interest rates are making it more challenging for potential homebuyers to afford the inflated home prices prevailing in many US housing markets. On its way to 5% and higher: The average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) and a 20% down-payment rose to 4.84% for the week ending September 7, 2018, the Mortgage Banker...