Notary Bulletin

Refi's Plunge As Mortgage Rates Rise

Refi's Plunge As Mortgage Rates Rise Mortgage refinance activity is down 36 percent from its peak in May, according to the Mortgage Bankers Association — a trend fueled largely by a hefty jump in interest rates.

The MBA reports that the average interest rate for a 30-year, fixed-rate mortgage hit a 14-month high of 4.15 percent last week. The fact that many homeowners have yet to take advantage of generally low rates could keep refinance activity fairly strong, even if at a slower pace, economists and lenders say.

Forecasts from late last year predicted strong home sales but a sharp drop in mortgage refinance activity.

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Quiz: The Many Types Of Notarial Acts

Notaries perform many different duties for the public — and it’s easy to lose track of the different acts and what states they’re authorized in. Test your familiarity with common — and uncommon — notarial acts.

(A link to the correct answers is provided at the end of the quiz.)

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