Where are Mortgage Rates Headed?

The cost of buying a home vs. the price of the home is often discussed. The price obviously is a major component of the cost. The other major component is the interest rate on your mortgage. A small increase in a mortgage interest rate can have a dramatic impact on your monthly payment. Remember, when purchasing a home, take into account the upcoming rise in mortgage rates in comparison with the purchase price.

Below are the projected rates from four major institutions: The National Association of Realtors (NAR), Fannie Mae, Freddie Mac and PMI.