National average mortgage rates for a 30-year mortgage have already climbed over 5% since the Fed raised interest rates in March. That and high home prices are leading some homebuyers to consider alternative types of mortgages. Rising home prices and mortgage rates are keeping some folks on the sidelines. "We’re talking to customers about ways they can suppress that monthly mortgage payment," said Damion Hughes with Amerifirst Home Loans. It says on a 40-year mortgage, the payment would be $940 a month, but the total interest paid would be $226,373.