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The share of mortgage applications for ARMs rose to 8.5% last week as the 30-year fixed rate climbed to 6.85%, its highest since June 2025
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Borrowers are shifting toward adjustable-rate mortgages as fixed mortgage rates climb to their highest level in more than a year, according to CNBC.
ARMs accounted for 8.5% of all mortgage applications last week, their highest share since June and a rise from 8% the prior week, according to the Mortgage Bankers Association. To put that in context, ARM demand sat at just around 3% during the pandemic's opening years, a period when fixed mortgage rates bottomed out at record levels.
