Mortgage applications decline and adjustable-rate mortgage share rises amid rising mortgage rates
- 1The average interest rate for a 30-year fixed-rate mortgage rose from 7.49% to 7.50%.
- 2The Mortgage Bankers Association reported a mortgage application decline of 2.75 last week, a 37.5% decrease in total mortgage applications compared to the same week one year ago.
- 3The ARM (adjustable-rate mortgage) share of 10.5% is the highest level since October 2025.
So what's the key point?
Mortgage applications have decreased by 37.5% compared to last year because loan interest rates rose. This means more people are choosing loans with variable interest rates.
Source CNBC · View original ↗
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