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Even more borrowers choose riskier mortgages, as higher interest rates crush affordability
Higher rates are pressuring mortgage demand, while ARM loans are taking a larger share as borrowers look to lower monthly payments.
✓Source-backed summarySource: CNBC
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THE VERIFIED BREAKDOWN
- Mortgage rates hit the highest level in nearly three years last week, and overall demand dropped.
- Total mortgage application volume fell 2.75 last week and was 37.5% lower than the same week one year ago.
- Borrowers continue to rely more on ARM loans; the ARM share was 10.5% and was at its highest level since October 2025.
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