Adjustable-Rate Mortgage Demand Doubles as Interest Rates Hit the Highest Since 2009

CNBC, Apr. 27, 2022–Diana Olick
Mortgage rates moved even higher last week, crashing refinance demand and prompting potential homebuyers to apply for riskier loan products which offer lower rates. Total mortgage application volume fell 8.3% last week compared with the previous week, according to the Mortgage Bankers Association.