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Mortgage rates are becoming a significant factor in the housing market, with the average 30-year fixed rate nearing 8%. Demand for riskier adjustable-rate mortgages is increasing as rates rise, reaching the highest level of the year. These adjustable-rate mortgages still offer mid-6% rates, leading more people to opt for them.
Adjustable-rate mortgage demand surges to highest level this year as 30-year rate keeps climbing https://t.co/t7QlGlrBWp
Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates - CNBC https://t.co/AaIA0dTt4F
more people buying homes turn to adjustable rate mortgages which still offer mid-6% rates https://t.co/vxLoxazDGu