Mortgage Rates decided to rebound a little this week, but by no means is this any indication that they will continue to rise.
We have seen rates bump back up like this a few times in the past only to see them drop even more the following week.
|October 21, 2010||30-Yr FRM||15-Yr FRM||5/1-Yr ARM||1-Yr ARM|
|Average Rates||4.21 %||3.64 %||3.45 %||3.30 %|
|Fees & Points||0.8||0.7||0.6||0.7|
Last week the 30 year was at 4.19%.
The 5/1 ARM has actually continued downward falling from 3.47% last week.
It is hard to say when rates will head back up. With the election coming, the holidays and a new year we could see the economy start doing better.
Old article? Check out the Mortgage Rates here.