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In the last four of five weeks Loan applications have been down.   This is according to the Mortgage Bankers Association.  We are seeing a reduction in refinancing because of the spike in interest rates.

The national average rate was reported at 6.57%.  The nice thing is my rates were at 6.5%.  Ha, I beat the national average. 

Luckily the last two days have worked in our favor as far rates go.  The mortgage backed securities have improved somewhat.  If it keeps up we should see some lower rates today. 

Inflation fears are still hurting us.  Mortgage backed securities do not like inflation. 

If you are waiting to refi until the market hits a certain rate, let me know.  I have a rate watch program that I can put you on.