Mortgage rates fell for the second straight week, but more borrowers sought savings in riskier loans

Mortgage rates fell for a second consecutive week, with the average 30‑year fixed rate dropping to 7.37% from 7.41%. Mortgage application volume rose 3.4% week‑over‑week, while adjustable‑rate mortgage applications increased to 11.3% of total, the highest share in over a year.

Source: Mortgage rates fell for the second straight week, but more borrowers sought savings in riskier loans — CNBC

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Topics: mortgagerates · housingmarket · realestate · refinance · useconomy