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

Econ & Housing, The Daily Buzz

  A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units. Sales were 8.6% lower than in May 2021. As existing-home sales declined, the median…

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