Category: adjustable-rate mortgages

Demand for Adjustable-Rate Mortgages Surge as Rates Push Higher

Mortgage applications for home purchases rose 8 percent over the week ending June 17 compared with the week before, in part because of rising demand for adjustable-rate mortgages, according to the Mortgage Bankers Association’s June 22 seasonally adjusted index. “Purchase applications increased for the second straight week—driven mainly by conventional applications—and the [adjustable-rate mortgage] share of…


Adjustable Rate Mortgage Demand Rises as Home Buyers Search for Cheaper Loans

Demand for adjustable rate mortgages (ARM) is increasing as homebuyers look for lower interest rates on loans and the share of ARM applications among total mortgage inquiries rises to its highest level in more than two decades, according to the Mortgage Bankers Association (MBA). Mortgage applications to buy a home rose by 5 percent for…