Despite their stigma, adjustable mortgages can save borrowers big bucks

What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take.
Rate news summary
From Freddie Mac’s weekly survey: The 30-year fixed rate averaged 3.91 percent, up 3 basis points from last week’s 3.88 percent. The 15-year fixed averaged 3.18 percent, up 2 basis points from last week’s 3.16 percent.
The Mortgage Bankers Association reported a 2.8 percent increase in loan application volume from the previous week.
Bottom line: Assuming a