New Build Construction loan/conventional mortgage

[Luca Mastrangelo]

Hi, considering a new build and wondering if anyone can point me to some good reference material or provide feedback on how to best shop this loan.  I understand the general idea of it (interest only on the construction portion during the build, then a regular loan after that).  The broker recommended by the builder can do both the construction and conventional 30 year loan. 

With interest rates rising, it feels like I'm getting pinched on both ends in that the housing market is still very expensive and doesnt yet reflect interest rates that have recently ticked up and then when I come to convert to a conventional loan in 9 months, I'd likely be getting a worse rate than today.  The lender did say they have an option to lock the conventional rate now but comes at the expense of 0.5% or something like that. 

Any contacts, advice, reading materials etc... would be greatly appreciated!

Separate but related question, what's our realtors take on a new build transaction? Is it still 5%?