Refinancing homeowners are granted a 3-day "cooling off" period.
As reported by the Census Bureau, 369,000 new homes were sold last month on a seasonally-adjusted, annualized basis.
Mortgage rates rose slightly last week on Fed-led stimulus and events in Greece.
The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday.
Sometimes, the housing data headlines tell just half the tale. May's Housing Starts figures are proving to be a terrific illustration.