Seasonally adjusted refinance application volume climbed 9% in the week ending December 3, according to the Mortgage Bankers Association, over a time period when mortgage rates were down only modestly.
“Borrowers are continuing to act on these opportunities, but if rates trend higher as MBA is forecasting, the window of opportunity to refinance will continue to get smaller," said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting, in a statement.
