For the first time since in 2015 mortgage rates went up with rates for 30 year conventional home loans at 3.66% which is an increase from 3.63% just a week ago. Rates for 15-year fixed home loans also increased to 2.98% and 5-year adjustable-rate mortgage rates also went out by three points to 2.86% which is still lower than last year's rates. One year adjustable-rate mortgage rates went up to 2.38%.

Financial experts believe that the increase in rates indicate a healthy and booming economy. Lenders have seen an increase in home buying and refinance activity in 2014 and expect that to carry over into 2015. Lenders are also seeing more applications which is unusual for the first quarter in the year. In addition, lenders are also saying more new applications from first-time homebuyers.

Interest rates aren't the only reason why there's been more activity in the housing market lately. More lenient lending requirements are helping to increase market activity. More homebuyers are also refinancing due to an increase in equity. The most popular loan for refinancing is the 15 year fixed rate. More than 60% of refinance applications for home loans at loanDepot were for 15 year mortgages. Analysts predict that will see much less refinance activity in the future because most homebuyers who have wanted to refinance have probably done so within the last few years. Experts predict interest rates to go up at a slow and steady pace