The refinance boom in home mortgages, which ignited late last year and pushed lending to record levels, may have finally run its course.

The latest weekly survey of lenders by the Mortgage Bankers Association found that just over 42% of mortgage applications in the week ending April 17 were refinancings, compared with 47% the week before. With interest rates inching up, total mortgage applications were down by one-fifth.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.