The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year.
The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association.
When mortgage rates hit record lows back in 2021, the ARM share of applications was in the 3% range. Overall mortgage demand dropped 2.3% last week compared with the previous week, according to the MBA's seasonally adjusted index.
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