Risky Business: As Interest Rates Soar, Borrowers Turn to Dubious Loans The mortgage market is a bellwether for economic trends, and recent developments suggest that we're heading into uncharted territory.
With interest rates at their highest levels in four years, borrowers are increasingly seeking out riskier loans to secure financing for homes.
According to the Mortgage Bankers Association's latest data, total mortgage application volume rose 0. 8% over the previous week, but this increase is largely driven by purchases rather than refinancing.