Good news for homeowners. Also, a growing risk that buyers could get burned.

　　Here more with that, our financial contributor,Betty Lou. Betty you know the tough news for buyers, not only the prices have gone up, the mortgage rate is spiking too.

　　-You said it, Gorge,the National Association of Realtors is expected to show that home sales grew by about 1.5% in July. That's a reversal from the decline in June  So right now if your home are ***, you're making money off of it.

　　In the 20 biggest city, home prices have gone up 14%. Two things are happening here. We're adding new jobs and the low interest rates. But as you said, George. They've gone up in the last three months. A 30-year fix-rate mortgage has increased by over 1 percentage point.

　　If you have a mortgage on a $200,000 house, 20% down, your mortgage payment would have increased by over $100 a month. That's $1,300 a year.

　　What's driving it? Well, it's interesting because oddly enough, it's because the economy is doing so well.

　　The federal reserve says, we may actually take the training wheels off this economy while pull back on stimulus, that's causing interest rates to rise.

　　We're going to get a better idea of how the fed is thinking because later today, they're going to release the transcript of their last policy meeting.

　　But don't panic yet, right? The interest rates are historically low, the demand is so high that economists are saying any slowdown is likely to be temporary.