What Homebuyers Need to Know as Mortgage Rates Climb in Tough Market

NBC News, May 10, 2022
With low inventory and record-high prices, waiting longer can have fixed mortgages tick up even higher. However, the average 30-year fixed mortgage rate has now climbed to 5.36 percent, leading to an 11 percent drop in new mortgage applications. Some families are turning to adjustable-rate loans where terms and interest rates typically change anywhere between 5 to 10 years. (MBA’s Mike Fratantoni interview)
https://www.nbcnews.com/nightly-news-netcast/video/what-homebuyers-need-to-know-as-mortgage-rates-climb-in-tough-market-139732549658