We are officially in a rising interest rate environment.  The action the FED is taking to purchase Mortgage Backed Securities is not working as expected. There is too much supply out there for them to buy, and consequently, the rates are rising. 

At the moment, a conventional 30 year fixed with 0 points is now 4.5% (according to Regions Bank).  This is still historically low, but buyers have grown accustomed to hearing 4.25%.  This has the potential to cause a lot of questions, and misunderstanding.  Please contact the mortgage professional you are working with to inquire about the current rates if your rate is not locked.