Mortgage SHOCKER: Borrowers Rush to RISKY Loans for Savings! Are YOU Next?
Did you know that despite falling interest rates, desperate homebuyers are flocking to riskier mortgage options just to save a few dollars? Overall mortgage demand plummeted by 4.7% last week, yet those still in the market are increasingly turning to adjustable-rate loans, hoping to secure the lowest possible entry rate. While 30-year fixed rates saw a slight dip to 6.43%, this modest decrease isn't enough to entice the broader market, as refinance applications also fell 8%. This trend signals a growing willingness among borrowers to embrace potential future payment hikes in exchange for immediate savings, revealing the intense pressure in today's housing market. Stay ahead of these crucial financial shifts by subscribing to our channel for expert insights and timely updates.
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