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.

When will rates start heading back up?

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.

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