Homebuyers rush to riskier loans, as tariff turmoil pushes interest rates higher

by anastasiakaufman-chime-me

Published Wed, Apr 16 20257:00 AM EDTUpdated Wed, Apr 16 20257:36 AM EDT

"For Sale" and "Sale Pending" signs in the West Seattle neighborhood of Seattle, Washington, US, on Tuesday, June 18, 2024. The National Association of Realtors is scheduled to release existing homes sales figures on June 21. Photographer: David Ryder/Bloomberg via Getty Images — “For Sale” and “Sale Pending” signs in the West Seattle neighborhood of Seattle, Washington, US, on Tuesday, June 18, 2024.David Ryder | Bloomberg | Getty Images

Mortgage rates jumped to the highest level since February last week, dampening overall demand and sending homebuyers in search of riskier loans with lower rates.

Total mortgage application volume fell 8.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. LEARN MORE…

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