Demand for adjustable-rate mortgages surges, as interest rates make biggest jump in 13 years - CNBC

Mortgage rates surged to the highest level since 2008, but more buyers applied for loans, perhaps concerned rates would move even higher.

Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association's … [+1930 chars]

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