Watching Mortgage Rates???

In recent posts, I noted the pressure on Mortgage Interest Rates.
But updates on rates are out!

I expect similar news to follow in the months to come.  Rates are still awesome...but for how long?

30 year Fixed Rate Mortgage averaged 4.86% for the week ending Dec. 30th, up from 4.81 % the week before.  This is still below the 5.14% at the end of 2009. A15 year mortgage averaged 4.2% versus a higher 4.54% a year ago.




1 year ARM and 5 year ARM show same trend from 2009 but remain significantly below last year end:  3.26% versus 4.33% and 3.77% versus 4.44%.

Yet, with the pressure on rates, I don't know who would gamble on an ARM.  The rare exception for ARM loans are individuals that know they will be in their home for a short period of time.