US Mortgage Rates Hit Highest Level Since 2023, Buyers Turn to ARMs
The average 30-year fixed mortgage rate in the United States has climbed to its highest level since 2023, pushing buyers toward adjustable-rate mortgages (ARMs) that offer lower introductory rates but carry reset risk. The structural shift highlights how the housing affordability crisis is reshaping both household finances and the broader real estate cycle, while also constraining the Federal Reserve’s policy path.