FinancingBy RISE Community editors
Mortgage rates ease again, but more borrowers choose adjustable loans
Mortgage rates fell for a second straight week, and applications rose 3.4%, but more borrowers chose adjustable-rate loans, the MBA reported.
Key facts
- The MBA said total mortgage application volume rose 3.4% from the previous week.
- The average contract rate on 30-year fixed-rate conforming loans fell to 7.37% from 7.41%.
- Applications to refinance climbed 3% on the week, yet sit 61% below their level a year earlier.
- Purchase applications rose 4% but were still 18% lower than a year earlier.
- The ARM share of applications rose to 11.3%, the highest level in more than a year.
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Read the original at CNBC (opens in a new tab)
Source: Mortgage rates fell for the second straight week, but more borrowers still sought savings in riskier loans — CNBC, October 28, 2026. Summary and commentary by RISE Community; read the full story at the source.
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