Ten years or more in maturity and interest rates are already considered longterm. Once hit by inflation, long-term rates can change drastically. And sometimes to keep situations like this under control, the Fed or Federal Reserve raises the charge on short term interests. People react to this by refinancing longer term fixed mortgages to escape the rising prices with their adjustable rates. There are lots of speculations how the Fed will impose changes but there’'s no single clue because the future of American economy is hard enough to predict. People tend to lose more money when acting impulsively with this complicated market dynamics.
