As Rates Jump- the Race Home - Presented by: The Aol. On Network

The race is on- as home buyers hit the gas pedal - mortgage applications surging 5 percent last week- trying to lock in rates as they continue to climb. The average 30 year mortgage rose to 4.15 percent- the highest since late March of 2012. Even refinancings- which had been tapering off a bit- were up 5 percent. But the rush may be premature- rates may stay in a new, slightly higher range says Steven Ricchiuto, Chief US Economist, Mizuho Securities



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