The rotational properties of the neutron rich Nd and Sm isotopes with mass number A ≈ 150 are systematically investigated using the cranked shell model with pairing correlations treated by a particle-number conserving method, in which the Pauli blocking effects are taken into account exactly. The 2-quasiparticle states in even-even Nd and Sm isotopes with excitation energies lower than 2.5 MeV are systematically calculated. The available data can be well reproduced and some possible 2 and 4-quasiparticle isomers are also suggested for future experiments. The experimentally observed rotational frequency variations of moments of inertia for the even-even and odd-A nuclei are reproduced very well by the calculations. The effects of high-order deformation ε 6 on the 2-quasiparticle excitation energies and moments of inertia of the ground state bands in even-even Nd and Sm isotopes are analyzed in detail. By analyzing the occupation probability n µ of each cranked Nilsson orbitals near the Fermi surface and the contribution of each major shell to the angular momentum alignments, the alignment mechanism in these nuclei is understood clearly. * zhzhang@ncepu.edu.cn For the neutron rich rare-earth nuclei with mass number A ≈ 150, especially Nd (Z = 60) and Sm (Z = 62) isotopes, there are many novel phenomena, e.g., nuclear quantum phase transition from spherical to deformed shape [1,2], octupole vibration [3-5], K isomers [6], etc. From neutron number N = 92, the nuclei are well-deformed and possess prolate ground state rotational bands. In this mass region, there are several high-K orbitals around the proton and neutron Fermi surface, e.g., π5/2 + [413], π5/2 − [532], π7/2 − [523], ν5/2 − [523], ν5/2 + [642] and ν7/2 + [633]. Therefore, this may give rise to the formation of various high-K multi-quasiparticle (qp) isomers, which are particularly favorable for studying the blocking effects of the pairing correlations.Due to the high statistics, the spontaneous fission of the actinide nuclei has been used to populate the isomeric and high-spin states of neutron rich nuclei in A ≈ 150 mass region [7][8][9]. Up to now, using the spontaneous fission of 252 Cf [10-19] and in-flight fission of a 238 U beam on a 9 Be target [20][21][22], various high-K isomers and high-spin rotational bands for the neutron rich Nd and Sm isotopes, including both the even-even and the odd-A nuclei, have been established. Most recently, the lightest 4-qp high-K isomer in this mass region has been observed in 160 Sm [21]. These data can reveal detailed information on the singleparticle structure, shell structure, the high-K isomerism, etc., thus providing a benchmark for various nuclear models.Several nuclear models have been used to investigate the properties of these neutron rich nuclei, including quasiparticle rotor model [16,17], a mean-field type Hartree-Fock-Bogoliubov theory with Gogny force D1S [13], projected shell model [23,24] and potential energy surface calculations [20,21]. However, most of these models focus on the eveneven nuclei. ...