Like many others, we were lookingto refinance while rates were super-low. Then a week ago Wedsnesday, the lid on the pot started bubbling over and rates have bounced up. And just like that, about 70% of all the refinance applications (ours included) are dead, as it doesn’t make sense to endure the closing costs to save $40 a month.

Will they go back down? Maybe for a short while, but the government can’t afford to keep them down for very long.

If you’re a mortgage broker, you want to make sure that you’ve got an alternate means of support.