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Rose more than half a percent to 4.46%, and that's in one week. 15-year rates jumped to 3.50%. and now the highest level since july of 2011. let's do the math. a $200,000 home loan cost $880 a month, that's how much it was, a payment in early may, and that same loan in today's rates would be $1,000. that's real money right out of the family budget. why is this happening? ben bernanke said it could taper back the extraordinary stimulus, and that stimulus has kept mortgage rates low, and it can't last forever and that means you will pay more to borrow. don't get me wrong. rates still historicall...

♪ ♪ >> heather: this week mortgage rates making the biggest one-week jump in 26 years. a 30-year mortgaged 4.46% according to mortgage giant freddie mac. that is the highest in almost two years. mickey cargile joins us now to let us know why, why the rise? >> well, the main reason for the rise is simply that the fear that the fed is going to stop buying so many bonds. they have been buying $85 billion worth of bonds every month and that has depressed interest rates. actually they are down quite lower than they should be. >> heather: so the historic rates in the past are those over? >> th...

The good news, coming off the biggest three-day rally. stock futures are higher this morning. the dow and nasdaq jumped yesterday. giving a soothing talk from federal reserve officials they are in no hurry to take away the billions of dollars the world is used to that we have been dumping into the market. all that soothing talk hasn't stopped the rise in mortgage rates. no calm tones there. the rate on the 30-year fixed taking the biggest jump in 26 years. that's right. that rate spiked a half percentage point in a week to 4.46. that extra point will cost you $56 more a month for every $100,00...

Past few weeks. stock futures higher again this morning. federal officials have been hinting they're in no hurry to do anything rash when it comes to propping up the bond market. the damage has been done to mortgage rates. 309-year fixed rate mortgage jumping by the biggest amount in 26 years, that rate spiked a half of a percentage point to 4.46%. look at that. the jump comes a week after ben bernanke signaled policymakers may consider pulling back on stimulus if the economy can handle it. student loan rates will double to 6.8%, interest rates are rising on just about everything, folks. you...

Average rate for a 30-year fixed mortgage going to 4.46%. it's the biggest one week increase since 1987. still it's historically low. but we had to ask questions about this. ben stein, an author and economist. the author of how to ruin your life and portfolio. what do you make of this move in mortgages. is it something to be concerned about? a good sign? >> i see it as a very good sign. we have had mortgage rates as at astonishing low rates. it's been a fixed price system. it's been held down so long the mortgage market has become a joke of being too low. now the rates are normal amounts. they...