Refinancing Activity Plummets as Mortgage Rates Hit 9-Month High

A for sale sign in Elkridge, Md., on Sept. 27, 2024. Madalina Vasiliu/The Epoch TimesRefinancing activity in the U.S. housing market plummeted last week as mortgage rates hit their highest level in nine months, new industry data released on May 27 show.Refinancing decreased by 18 percent for the week ending May 22 and is up by 19 percent from the same time a year ago, according to the Mortgage Bankers Association.