US mortgage rates ticked up higher this week, with the 30-year fixed rate moving upward to 6.3%. While mortgage rates remain elevated, more homebuyers are opting for adjustable-rate mortgages (ARMs).
Yahoo Finance Senior Reporter Claire Boston joins Mind Your Money host Allie Canal to discuss the dynamics of adjustable-rate mortgages in this environment.
Read more: Is now a good time to get an adjustable-rate mortgage?
Make sure to sign up for the Mind Your Money newsletter, and click here for more information and tools on managing your finances.
To watch more expert insights and analysis on the latest market action, check out more Mind Your Money.
