Explain why thrifts in New England and other places have been hurt by the recent wave of mortgage refinancings and the lack of customers who want...

Explain why thrifts in New England and other places have been hurt by the recent wave of mortgage refinancings and the lack of customers who want adjustable rate mortgages. Assuming that the refinancings were unanticipated how did they affect the bank's repricing and duration gaps? Are they now more or less sensitive to interest rate changes? Explain