Loan Scandal Escalates

Three weeks ago, rates for a 30-year, fixed-rate mortgage bottomed out at 5.175 percent.

Then the window, open for no more than a day, slammed shut, and the rates have since shot up, briefly touching 6.25 percent on Thursday, according to Lou Barnes, principal of Boulder West Financial Services.

Not only have rates been volatile, but it's not as easy for borrowers to qualify for low rates as it used to be.

Since the end of December, the number of refinance applications nationwide has risen by more than 200 percent, according to the Mortgage Bankers Association.

Eric Tupler got lucky.

The vice chairman of CB Richard Ellis Capital Markets Denver office, refinanced his second home in Eagle County at the low rate.

"I wouldn't tell you that everybody would have been able to get the loan I got," Tupler said. read more