ARM Rush Pushes Mortgage Applications Up

ARM Rush Pushes Mortgage Applications Up

Mortgage applications rose slightly last week, driven by an increase in adjustable-rate applications. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – increased by 0.6%. Mortgage rates shot up for all loan types but adjustable-rate mortgages, leading to a rush on these loans,…

Adjustable-Rate Mortgages Poised To Make A Comeback?
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Adjustable-Rate Mortgages Poised To Make A Comeback?

By SCOTT KIMBLER It is being reported that the typical homebuyer could save an estimated $15,582 over five years if they take out an adjustable-rate mortgage and some borrowers are wondering if the risks are worth the rewards. On Friday, Redfin published an article by Lily Katz and Taylor Marr which stated that demand for…

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