Don't be frightened.  While mortgage rates are on the rise there are solutions.  It is a good time to negotiate a better price on the home of your dreams. There are mortgage programs that allow you to lock into a lower rate for a longer period.  It is time to get creative, get your lenders to get creative and make it happen.

Historical data show that higher interest rates have not necessarily derailed real estate total return performance. In fact, property performance has often remained resilient in the face of rising rates.  

So do your homework, ask a professional, seek out non-traditional financing options, etc.