LOS ANGELES — When mortgage rates began climbing in May from rock-bottom lows, Kevin Williams worried he might miss out on an opportunity.
So he listed his home in Orange County, Calif., and planned to buy a bigger house in San Diego after it sold. The process took all summer. Last week, he and his wife locked in a mortgage.
The extra time added at least $1,000 more a year than if they had secured a loan in May. Still, Williams believes they made a prudent decision.
‘‘I felt I had to act now before I was priced out,” he said.
Williams’s justification is why many brokers and analysts remain confident that the housing recovery can handle higher mortgage rates. Full story for BostonGlobe.com subscribers.