Higher mortgage rates and the Thanksgiving holiday contributed to further slowing in refinancing activity for the week ending Nov. 26. 

According to the Mortgage Bankers Association, the Refinance Index plunged a seasonally adjusted 21.6% to ~2973. This was the third straight weekly decline and places the index at its lowest level since early June. As a percent of total applications, refinancing share fell to 74.9% from 78.6% — also at its lowest level since June. 

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