Long-term interest rates up
Bankrate.com reports that "The benchmark 30-year fixed-rate mortgage rose 2 basis points to 6.31 percent ... One year ago, the mortgage index was 6.07 percent; four weeks ago, it was 6.45 percent."
And, the "refinance volume jumped 17.5 percent ... Some 46.7 percent of mortgage applicants were homeowners who wished to refinance their home loans. The refinance share hadn't been that high in 19 months."
To read more: October 5, 2006 interest rate report