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Demand for Adjustable Rate Mortgages Hits 14-Year High

Monday, May 16 2022
Lending
Written by  The Mortgage Leader

With mortgage rates and home prices climbing, a measure of demand for adjustable rate mortgages has surged to its highest level in 14 years. So reports CNBC.

MBAAccording to the Mortgage Bankers Association, ARMs’ share of overall mortgage applications in the week ending May rose to 11%, the biggest share since March 2008.

Home purchase loan applications rose 5% compared to the previous week, according to the MBA’s seasonally adjusted index.

Read the full article from CNBC. 

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