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The mortgage bankers' refinancing index fell 10.3percentto to 1,593.1, from 1,776.9.
The refinancing index slumped 19.6percentto to 2,100, the largest decrease since a 22.1percentt slide in the week ended Oct. 10.
The refinancing index surged 19.9percenttoto 3,005.5.
The refinancing index rose 3.2percentto to 1,450.6.
The refinancing index increased 22.4percentto to 2,351.7, also the highest since mid-January.
The group's refinancing index rose 35.2percenttoto 4,748.8, the highest level since mid-November.
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The refinance index decreased by 9.7percentt from one week earlier.
The Mortgage Bankers Association said its refinance index, which measures refinancing activity, tripled to 3,802.8 last week from the week before.
The Mortgage Bankers Association said its refinance index, which measures refinancing activity weekly, stood at 5,904.5 as of Jan . 2 up from 1,254 on Nov. 21, before the Fed's announcement.
The Refinance Index, meanwhile, increased 20 percent from the previous week.
While equity and credit markets did rebound from their May-June dislocation, higher interest rates have hit the housing market quite hard, reflected in a sharp fall in the mortgage-refinance index, lower home affordability, and declining purchases.
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