When Jennifer and Sam Lam put a contract in on a home in late April, they had timed the deal perfectly, with mortgage rates hovering under 5 percent. After an inspection revealed structural problems, it took the couple only a few weeks to find another place — this one a three-bedroom, 2 1/2 -bath Capitol Hill rowhouse with a basement rental.

On May 27, they submitted their offer, only to learn that their good timing had apparently expired. The seller rejected their price, and mortgage rates rose almost three-quarters of a point in the following two weeks. They would have increased their offer, but couldn’t anymore: The higher rates would have added a couple hundred dollars each month, which they could not afford.

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