From Bankrate.com Product / Friday's avg / Last week's avg 30 Year Fixed 6.09% 5.80% 15 Year Fixed 5.49% 5.16% 1 Year ARM 4.69% 4.59% 30 Year Fixed Jumbo 7.04% 6.79% 5/1 ARM 5.35% 4.94% 3/1 ARM 5.19% 4.87% I don't have the numbers from Thursday, but I believe they were even more dramatic as mortgage rates had been falling, until last Friday. I wonder if it had anything to do about Citigroup "scaling back" mortgage operations on Thursday. I was under the impression that the fed wanted to quickly cut rates to ease the pain of ARMs reseting and to encourage others to refinance out of exotic mortgages and into traditional fixed rate products. If mortgage rates continue to rise, we may be in for some real trouble in the housing bubble. I honestly believed the worst had passed.