Mortgage rates moved up again last week, prompting more borrowers to search for savings
Corroborated by 2 sources from 2 publishers
globalbusiness5h ago
TL;DR
Mortgage rates moved up again last week, prompting more borrowers to search for savings. They found that in riskier, adjustable-rate mortgages (ARMs). Demand for those loans made up 8.5% of all mortgage applications last week, up from 8% the previous week, according to the Mortgage Bankers Association, and the highest level since June.