Requests for refis tumble again

Demand cools as interest rates rise

Applications for refinancings accounted for 59.4 percent of all mortgage applications for the week ending June 5 — the lowest share for refinancings since November, the Mortgage Bankers Association said.

With interest rates on the rise, applications for refinancings were down 11.8 percent from the previous week, with purchase loans increasing by 1.1 percent on a seasonally adjusted bases.