Low interest-rate lock-ins seem to matter far less than life cycle events, such as a new job elsewhere, retirement, bigger or smaller homes, multiple generations in same home, different neighborhoods for schools, change in marital status, etc.  Only 3% of folks recently said the changes in interest rates was a reason to move, so all this is like past history, then interest  rates are NOT a big factor.  SO AS INTEREST RATES MOVE UP, LIFE MOVES ON. Interest rates may cross over the 5% threshold sometime in 2015 and near 6% by 2016.