If you need to purchase a home, you most likely need a loan, and mortgage rates are a part of that puzzle. The purchase price of the home in your budget will vary depending on the rate. Lower rates can save you thousands of dollars.
Sudden rising mortgage rates can cause current home owners to look for lower cost homes, shop for a lower rate, or maybe even rent for a while and save for a bigger down payment.
The Federal Reserve sets rates, and mortgage rates are based on those. The Federal Reserve does what they feel is needed to grow our economy, but extremely low mortgage rates can only go up, so they are worth watching.
The best thing is to check with lenders to see how current mortgage rates might affect your home buying process here in Florida.