Mortgage rates today remain high, with 30-year fixed at 6.625% and ARMs climbing. See how current rates compare.

You’ll see two numbers in front of an adjustable rate mortgage. They tell you how long you’ll have a fixed rate and how often it will change after that. Let’s use a 5/1 ARM as an example.

With an adjustable rate mortgage, or ARM, interest rates can change based on market conditions. With an ARM, the borrower locks in a fixed rate for the introductory period, which is typically five ...

A 5/1 adjustable-rate mortgage has an average rate of 6.16% today. You’ll typically get a lower introductory interest rate with a 5/1 ARM in the first five years of the mortgage.

The adjustable-rate mortgage share of activity increased to 9.6% of all applications — the highest level recorded since November 2023.

Homeownership is often seen as a cornerstone of the American Dream. But for some who bought in recent years, it’s become a costly source of stress.

Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of fixed interest rates in 2022, Federal Reserve researchers found.

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