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

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

US mortgage applications fell 2.7% as 30-year fixed rates climbed to 6.85%, nearing 7%. Freddie Mac reports the highest rate since July 2025.