Refinancing share of U.S. mortgage applications at lowest since 2008.

Refinancings’ share of U.S. mortgage applications shrank to its lowest level since late 2008 at the peak of the global credit crisis, as home borrowing costs remained elevated in line with bond yields, the Mortgage Bankers Association said on Wednesday. The share of requests from homeowners to refinance a mortgage fell to 46.2 percent in the week ended Feb. 17. This compared with 46.9 percent in the previous week and was their smallest share since November 2008, the Washington-based industry group said.

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