Rising fixed rates drive increased preference for adjustable-rate mortgages (ARM)
ICE Intercontinental Exchange Inc
$153.49 +0.88%
View chart & analysis → - 1Nearly 11% of fixed-rate mortgage originations for the week of September 18 were adjustable-rate mortgages (ARM).
- 2As of September 30, the ICE 30-year fixed rate index stood at 7.31%.
- 3The 2027 median monthly payment increase for 74,000 7-year ARM borrowers from 2020 is estimated at $1,066.
So what's the key point?
More people are choosing loans with changing interest rates instead of fixed interest rates. By 2027, the monthly payments for these borrowers could increase by about $1,066.
Source Inman · View original ↗
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