ARMs race?

With conforming mortgage rates these days in the mid-5% range, a growing number of buyers are opting to roll the dice with adjustable-rate mortgages. 

Good afternoon! Was this newsletter forwarded to you? Sign up here. Hello, LOs! With conforming mortgage rates these days in the mid-5% range, a growing number of buyers are opting to roll the dice with adjustable-rate mortgages. According to the latest data from the Mortgage Bankers Association, ARMs surged up to 8.5% of all mortgage applications last week. That's the highest level since 2019.    I reported earlier this week that some lenders are getting into jumbo ARM products as well.   LOs, I'm curious – which ARM products are you seeing most demand for? Are prospective borrowers worried about what the maximum rate charged could be? What do the caps on the ARM products look like from your lender? Share with me at james@hwmedia.com.    James Kleimann Managing Editor, HousingWire Mortgage applications nosedive as rates continue to soar Mortgage With rates at the highest level in a decade, mortgage applications for the week ending April 15 fell 5%, according to the MBA. Help real estate agents offer more options and save deals How? Share creative solutions for buyers that may be new to your referral partners. When they see how these strategies can help them solve problems for buyers and show more homes, they'll thank you! I want to love it! Sponsored by MGIC Three steps lenders should take when selecting an eVault provider Presented by Wolters Kluwer As a critically important component in digital mortgage lending, it's not a matter of if lenders adopt eVault technology, but when and how. Here's what you need to know before investing in eVault technology Purchase mortgage rates climb to 5.11% Mortgage Purchase mortgage rates this week averaged 5.11%, up 11 basis points from 5% a week ago. A year ago at this time, 30-year fixed-rate purchase rates were at 2.97%. The 2022 ServiceLink State of Homebuying Report was just released! This comprehensive report examines shifting experiences and approaches to homebuying and refinancing and changing attitudes about the role technology plays in the process. Get access to Crews: Sponsored by ServiceLink The housing market is still savagely unhealthy Politics & Money, Real Estate, HW+ Exclusive Content Hope for a balanced market is real this year because, with higher rates, we should see more days on the housing market coming up. HousingWire, 433 East Las Colinas Blvd., Suite 830, Irving, TX 75039 Manage preferences

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