Mortgage refinance demand plunges 21%, as interest rates hit 3-week high

Meanwhile, I want to get over to Diana Ol. She's got the weekly mortgage applications report. Good morning to you. >> Good morning, Andrea.Yeah, the refi boom we saw just a few weeks ago just went bust thanks to higher mortgage rates. The average rate on the 30-year fix for conforming loans increased last week to 6.46% from 6.34%. That's for loans with 20% down according to the Mortgage Bankers Association.Now, as a result, applications to refinance a home loan dropped 21% last week from the previous week. ...