Confined nanoscale spaces, electric fields and tunneling currents make the molecular electronic junction an experimental device for the discovery of new, out-of-equilibrium chemical reactions. Reaction-rate theory for current-activated chemical reactions is developed by combining a Keldysh nonequilibrium Green's functions treatment of electrons, Fokker-Planck description of the reaction coordinate, and Kramers' first-passage time calculations. The NEGF provide an adiabatic potential as well as a diffusion coefficient and temperature with local dependence on the reaction coordinate. Van Kampen's Fokker-Planck equation, which describes a Brownian particle moving in an external potential in an inhomogeneous medium with a position-dependent friction and diffusion coefficient, is used to obtain an analytic expression for the first-passage time. The theory is applied to several transport scenarios: a molecular junction with a single, reaction coordinate dependent molecular orbital, and a model diatomic molecular junction. We demonstrate the natural emergence of Landauer's blowtorch effect as a result of the interplay between the configuration dependent viscosity and diffusion coefficients. The resultant localized heating in conjunction with the bond-deformation due to current-induced forces are shown to be the determining factors when considering chemical reaction rates; each of which result from highly tunable parameters within the system.