Adjustable-rate mortgage demand doubles as interest rates hit the highest since 2009 - CNBC

Sharply rising mortgage rates caused mortgage demand to plunge and pushed more borrowers to riskier, adjustable-rate loans.

Mortgage rates moved even higher last week, crashing refinance demand and prompting potential homebuyers to apply for riskier loan products which offer lower rates. Total mortgage application volume… [+2121 chars]

full article...