Interest rates play a big role in a buyer's ability to afford a home. The interest rates will cause a mortgage payment to be high or low depending on the "locked rate."
The graph below shows a historical account of the changing rates throughout the past 50 years.
Currently, interest rates are about average if take a look at the graph. I think, in general, we became accustomed to the low interest rates thinking they would last forever. As the economy adjust, so do interest rates. Interest rates were kept low to strength the economy after various historical events such as the crash of 2008, and the pandemic.
Interest rates are constantly changing, seek an advice of a Loan Officer to obtain the best possible rate. There are many lenders who are offering different programs to help buyers. I can always refer you to well qualified Loan Officers.