Mortgage refi applications jump even as U.S. homebuyer demand stays soft, supply up
New-home sales plunged 7.3% in May to a 580,000 annual rate as unsold supply hit 10.3 months, signaling sluggish demand that threatens builder margins at D.R. Horton, Lennar, PulteGroup, and Toll Brothers, while a 3% jump in refinance applications offered only limited relief for mortgage originators like Rocket Companies.