The Real Estate Refinance Trend Downward Continues

3.6%, dipping from 390 to 376. * The Refinance Index continued its freefall, dropping 21.3% from 2,757 to 2,169.
Oh, for the good old days! Less than three months ago the Refinance Index was at 9,978. It has fallen almost 80% since June 5.
Refinance applications now account for 48.9% of all applications. That means purchase money now accounts for 51.1%; it's officially a RESALE market.
Remember, when rates go up, sellers still sell and buyers still buy. It's your attitude, persistence and repositioning that make the difference.
Bill Exeter