Higher Mortgage Rates Push Interest In ARMS

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates rose again last week, with increases seen for fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and ARMs. Rates for fixed-rate loans saw the week’s only decline. With mortgage rates continuing to move higher, demand for mortgage loan applications fell. Joel Kan, MBA’s vice president and deputy chief economist, says higher rates have pushed borrower interest in adjustable-rate mortgages.

“The speed and level to which rates have climbed this year have greatly reduced refinance activity and exacerbated existing affordability challenges in the purchase market,” Kan said. “With rates at these high levels, the ARM share rose to 12.8 percent of all applications, which was the highest share since March 2008. ARM loans continue to remain a viable option for borrowers who are still trying to find ways to reduce their monthly payments.” The MBA’s weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications.


Read More Via: Mortgage Bankers Association

Kandida Reynolds

Kyleign Gleason

Real Estate Agent

Born and raised in Texas! I was born in Arlington and soon moved to Grapevine when I was younger, I have called it home now for the last 15 years. I have always worked in retail and love all things fashion. Growing up, I’ve seen what a power house my mom has become through real estate and all the opportunities it offered her and our family. Working in real estate has caught my attention and interest; I cannot be more excited to start my journey. I think helping people find their dream home, investment home, starter home, or even temporary home is such a wonderful thing. It really is an amazing experience to be a part of and I’m looking forward to soon being able to be that person who gets to help!

Kandida Randall

Agent | License ID: 0741017

Choosing a career in real estate has been one of the best decisions of my life. I have lived in several cities across the metroplex so no matter where you are looking, I am able to provide guidance and advice. I have had the joy of helping dozens of families buy, rent or sell their homes. My clients may be first-time home buyers that are excited to start this incredible journey, sometimes they are family or friends that need to sell the home they’ve lived in for 20+ years… no matter what, I’m deeply humbled that they trust me to lead them through this process and I would be honored to help you as well! ​​​​​​​​​​​​​​​​​​​​​

Elizabeth Gleason

Agent | License ID: 0613248

Knowledgeable, Trustworthy, Dedicated. Elizabeth Gleason moved to the DFW area in 2000. She currently resides in Grapevine with her family. Passionate about serving people, Elizabeth launched her real estate career in 2009 after working in an upscale fast-paced corporate environment. Her hard work, charisma, true passion for helping others has helped Elizabeth’s reputation as a qualified real estate agent rise quickly. Elizabeth specializes in all facets of the real estate business, she works with buyers, sellers, renters, investors and in commercial. “It is such a privilege working with clients while doing something I love. I look forward to walking this journey with you.” In her free time, Elizabeth enjoys hosting family and friends, volunteering, and attending local events.

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