A combined bar and line chart showing how a dip in long-term interest rates boosted mortgage refinancing throughout the United States. In January 2000, the refinancing index was 384.8, and interest rates were 6.66%. In May 2000, the refinancing index was 319.3, and interest rates were 6.44%. In September 2000, the refinancing index was 444.0, and interest rates were 5.80%. In January 2001, the refinancing index was 2,043.4, and interest rates were 5.16%. In May 2001, the refinancing index was 1,771.9, and interest rates were 5.39%. In September 2001, the refinancing index was 2,615.6, and interest rates were 4.73%. In January 2002, the refinancing index was 2,043.1, and interest rates were 5.04%. In May 2002, the refinancing index was 1,565.2, and interest rates were 5.16%. In September 2002, the refinancing index was 6,094.5, and interest rates were 3.87%. In January 2003, the refinancing index was 5,714.1, and interest rates were 4.05%. In May 2003, the refinancing index was 8,099.5, and interest rates were 3.57%.