Weekly mortgage refinance applications surge over 300% from a year ago, but there's a catch

Continued low mortgage rates are keeping bankers busy, as refinance applications continue to rise. Refinance volume helped push total mortgage application volume up 1.5% last week compared with the previous week. Volume was 153% higher compared with the same week one year ago. This week's annual comparisons are skewed, however, because last year the Thanksgiving holiday fell one week earlier, so these results are being measured against a holiday week.