Mortgage Rates Increase, When Will CD Rates Move Higher?

The past month we have seen mortgage rates on a tear, moving higher week after week while average CD rates are still stuck at record lows. The past week's average mortgage rates on both 30 year and 15 year loans were up almost 30 basis points each. Rates on home loans are moving higher because they are tied to long term bond yields, which have also gone considerably higher the past month.