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Adjustable-Rate Mortgages Surge to 10% Amid Low Initial Rates

11/5/2025

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Summary

Story summary

Adjustable-rate mortgages accounted for about 10% of mortgage applications in early October 2025.
The share rose from about 3% in early 2021.
ARMs offer lower initial rates than fixed-rate mortgages on average.
Common ARM structures include 5/1 and 10/6 ARMs.
Buyers should consider refinancing to a fixed-rate mortgage if circumstances change.

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Story summary

Adjustable-rate mortgages accounted for about 10% of mortgage applications in early October 2025.
The share rose from about 3% in early 2021.
ARMs offer lower initial rates than fixed-rate mortgages on average.
Common ARM structures include 5/1 and 10/6 ARMs.
Buyers should consider refinancing to a fixed-rate mortgage if circumstances change.