【CNBC】Demand for riskier mortgages rises along with interest rates

• The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, increased to 6.79% from 6.78%
• The average contract interest rate for 5/1 ARMs fell to 5.94%.
• Applications to refinance a home loan dropped 1% for the week and were 19% lower than the same week one year ago.

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