Depends on the fed, silly. Interest rates are at their lowest--so there's only one way they can go! This is one great part of the reason why everyone's lost their homes since 2007! ARMs, and the rate went up. Only get what you can afford, for the monthly payment every month! Cheeeeessss people! Hasn't anyone learned their lesson yet?
Know the full terms of the loan before you sing! Make sure you understand all the terms! Some people have ARMS, paying interest only (you never pay it off!) and then a balloon payment at the end of the term! Nobody's gonna refi you when interest rates rise. Why not just bend over and get it over with??????