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ICE Mortgage Monitor: ARM Demand Hits Nearly Four-Year High on Rising Mortgage Rates

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ICE Mortgage Monitor: ARM Demand Hits Nearly Four-Year High on Rising Mortgage Rates

Intercontinental Exchange, Inc., one of the world’s leading providers of financial market technology and data powering global capital markets, released the October 2026 ICE Mortgage Monitor Report. The analysis finds that adjustable-rate mortgages (ARMs) are drawing renewed borrower interest as mortgage rates climb. ARMs accounted for more than 11% of rate locks, their largest share in nearly four years, as ICE’s Conforming 30-year Fixed Rate Index reached 7.2% on Sept. 24.

“ARMs are becoming more attractive to borrowers looking for relief from today’s higher fixed rates, but the overall market exposure to adjustable payments remains relatively limited,” said Andy Walden, head of Mortgage and Housing Market Research at ICE. “There are now 3.1 million active first-lien ARMs, the most in 5.5 years, but they represent just 5.6% of active mortgages. And because most newer ARMs are still in their introductory periods, only about a third of active ARMs have begun adjusting.”

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“Changes in the rate environment affect borrowers differently depending on when their loan was originated and how it’s structured,” said Bob Hart, president of ICE Mortgage Technology. “That makes timely data and connected technology especially important. ICE gives lenders and servicers the information and tools they need to understand what’s happening across their portfolios and support borrowers as their needs change.”

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