subprime mortgages
Climbing Mortgage Rates Expose Subprime Borrower Boom
Subprime mortgage applications are rising even as overall rates climb, because lenders are offering cheaper, targeted products that attract risk-tolerant borrowers. According to TransUnion, subprime applications grew 13% year-over-year in March 2026, while the national mortgage rate jumped 0.5% in the same quarter. The paradox is that subprime rates