The employment rate for August slowed sharply from earlier in the summer and that could cause the Federal Reserve to raise short term interest rates. This comes at a time when wages are basically stagnant but Creighton University Economist Ernie Goss says there is a method to their reasoning.

Goss says that is putting upward pressure on mortgage rates due to that anticipated rate hike.

Goss predicts short term interest rates will likely increase a quarter to a half-percentage point by the end of the year.