mortgage interest rates

When mortgage rates dipped to 6%, experts anticipated a big year for homebuyers who had been sitting on the sidelines. But then came the war in Iran, which drove rates back up.

According to the Mortgage Bankers Association, the number of ARM applications jumped 25% last week, to their highest level in three years.

And yet banks are loaning out more money than a year ago.

The Ukraine war and the impacts of the pandemic sparked a global spike in prices. Britain is grappling with the domestic consequences.

More homebuyers are applying for adjustable-rate mortgages, which often come with a lower initial monthly payment. But borrowers could end up paying more in the long run.

The hassle isn’t the only thing stopping them.

Here’s why long-term interest rates don’t always move with the Fed.

Research by the New York Fed connects the two.