ICE Mortgage Technology, Inc.

The average rate on credit card accounts with assessed interest in August was the highest in about a year on average at twenty-two point three six percent.

And in a similar story, nearly eleven percent of mortgage borrowers who locked in a rate in mid-September did so with an adjustable rate mortgage, according to ICE Mortgage Technology, at a time when the average mortgage rate's around seven and a half.

There were some reports, according to Mortgage News Daily, of a seven-six arm at around six point nine five percent.

That's where the rate's fixed for the first seven years and then adjusts every six months after that.

Here's something I've been wondering about for several weeks.

Nearly 11% of mortgage borrowers who locked in a rate in mid-September opted for an adjustable rate mortgage, according to data from ICE Mortgage Technology.

That is up more than 3 percentage points over the past three months, and it's the highest level in nearly four years.

So there is a catch to that.