Mortgage rates continue to climb, so more borrowers are turning to adjustable rate mortgages, which offer lower interest rates comparatively.

Mortgage rates continue to climb, so more borrowers are turning to adjustable rate mortgages, which offer lower interest rates comparatively.

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