Daily Caller News Foundation (Jack McGeever), The Star News Network
Americans are increasingly turning to adjustable-rate mortgages to escape borrowing costs above 7%. Adjustable-rate mortgages, or ARMs, accounted for 9.8% of mortgage applications during the week ending Sept. 18 as the average 30-year fixed mortgage rate surged to 7.12%, its highest level since May 2024, according to the Mortgage Bankers Association. The shift was notable because borrowers were accepting the risk of future rate increases for relatively modest savings compared with a traditional fixed-rate mortgage.
Click to read: https://thestarnewsnetwork.com/2026/09/28/americans-turn-to-riskier-mortgages-as-borrowing-costs-explode/