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The current trend of rising home mortgage interest rates is expected to continue. The inching-up began in the third quarter of 2005 and has steadily risen at a quarter percent per hike.
Economists do not predict a serious market slow-down as a result of the increses as rates are still historically very low and affordable. The Adjustable Rate Mortgages (ARM's) usually gain favor when fixed rates rise but the increases have not caused significant concern in the market.
|Sheri Ann Richerson|