Rather than asking, "When will mortgage rates go down?" many potential home buyers are now worrying that rates could move higher, perhaps beyond 7% — to 8% or more. What if you wait to buy a house only for mortgage rates to turn against you again? Read more: The best mortgage lenders right now What could make mortgage rates move higher? Even the Federal Reserve can't compel mortgage rates to fall. The Fed's latest decision on Sept. 17 to lower short-term interest rates actually nudged mortgage rates h ...