Long-term real estate rates refuse to rise

But borrowers with adjustable loans will soon feel pinch

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Long-term rates are stuck. After a November scare at 4.65 percent, the 10-year T-note has stayed within a whisper of 4.5 percent, which in turn has kept low-fee fixed-rate mortgages close to 6.25 percent.

Short-term rates will continue their grinding rise on Tuesday when the Fed goes to 4.25 percent. “Prime” will go to 7.25 percent — mechanically 3 percent above Fed funds.