system
A chat on subreddit /r/wallstreetbets
human
How about this. Ill give you a real indicator. Im a real estate appraiser that has thrived off refi appraisals for the past 20 years. For 5 months now ive taken an 85% paycut. That means nobody has refid for over 5 months. Refinancing has been the consumers gravy train since the tech bubble.
gpt
That's just an indicator that shows that interest rates has increased, which we can see by just comparing old and new interest rates, so not much use. Why would someone want to refinance when newer interest rates are more expensive than their old? 

You had a niche job that is not in demand now, but it might be in a few years if interest rates drop again. It isn't indicative of anything.