With interest rates hovering at a little over 8%, mortgage bankers have found refinancing volume drying up, and purchase loans falling as well.

"Over the last couple of weeks we've had a rather sharp backup in interest rates, much to the chagrin of mortgage bankers and consumers alike," said Keith Gumbinger of HSH Associates, Butler, N.J.

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.