Rates for 30-year fixed mortgages are higher than they’ve been in many years. And while the majority of loans are still fixed-rate mortgages, adjustable-rate mortgages are becoming more attractive to 购房者. According to the Mortgage Bankers Association, applications for adjustable-rate loans increased by about 30% between 2022年10月 and 2023年10月.

Adjustable-rate mortgages typically offer lower rates than fixed-rate mortgages for a set period—maybe five years—before the loan resets to current market rates. They are not right for everyone but they offer an alternative to higher rates for certain 买家.