Mortgage Applications for Risky ARMs Rise to 8.5% Demand
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowMortgage rates increased last week, with adjustable-rate mortgages (ARMs) making up 8.5% of all mortgage applications, rising from 8% the previous week. This represents the highest demand since June. The average contract interest rate for 30-year fixed-rate mortgages rose to 6.85%, the highest level since June 2025, while total mortgage application volume dropped by 2.7%. This trend indicates ongoing investor concerns about inflation and may impact ordinary investors by influencing housing affordability and mortgage costs.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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