Adjustable Rate Mortgages Are Picking Up

The Fed is pushing people into these types of products that they don't want to be in. With rates of 7% adjustable rate mortgages are picking up. The arm share of applications last week increased to 12.8% by loan amount. This is not really terribly surprising, but Logan Modashami tweeted this chart from Len Kiefer: In 2005, two out of five mortgages had adjustable rates. In 2021, it was less than two out of 100. So now I know that's backward looking a bit. But still nothing, nothing, nothing like the dotcom bubble.