AssetID: 53129132
Headline: High Rates and Risky Mortgages Fuel Fears of Spike in Foreclosures
Caption: 'Newsweek' reports that increased mortgage rates could result in more homebuyers facing a higher risk of foreclosure. According to the Mortgage Bankers Association, applications for 5/1 adjustable-rate mortgages (ARM) rose 32.5%, while loan rates reached the mid-6% range.
Keywords: High rates,risky mortgages,fuel,fears,spike,foreclosures,homebuyers,rates,rising,price,cost,priced out,affordability,homes,higher risk,adjustable-rate
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