There is a sense of urgency to buy now before mortgage rates go higher.  According to AOL Real Estate.com, Mark Hanson is predicting a 19 percent jump in contract cancellations for the home builders for sales made between December 2012 and June of this year because home rates are not yet locked in.  Unexpectedly, there is a jump to sign contracts to buy existing homes in a six-year high in May.  The majority of current home buyers are concerned with the rising rates.