Adjustable-Rate Mortgage Demand Hits Yearly High as 30-Year Rate Continues to Climb
Wednesday, 1 May 2024, 11:01
Adjustable-Rate Mortgage Demand Surge
Mortgage applications fell 2.3% in the last week, as reported by the Mortgage Bankers Association. The demand for adjustable-rate mortgages is on the rise, reaching the highest level this year.
30-Year Mortgage Rates Climbing
- The average rate for a 30-year mortgage currently stands at 7.29%, indicating a continuous climb in rates.
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