Rising Mortgage Rates Sink Homebuyer Demand
Pro Builder
OCTOBER 20, 2022
As 30-year fixed-rate mortgages with conforming loan balances reach their highest level since 2002, the share of borrowers who benefit from refinancing is at a record low. As prospective homebuyers struggle to keep up with rising housing costs, many are now turning to risker adjustable-rate mortgages (ARMs) to secure lower rates.
Let's personalize your content