【CNBC】Wild swings in mortgage rates last week caused a rare surge in refinancing

• The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.47% from 5.43%.
• Refinance applications rose 4% for the week but were 82% lower than the same week one year ago.
• "The purchase market continues to experience a slowdown, despite the strong job market," said Joel Kan, MBA's associate vice president of economic and industry forecasting

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