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4/04/2021 09:36:00 AM
CR Note: There is quite a bit of information (and charts) in this article by Matthew Graham at MortgageNewsDaily: Who s Lying About The Housing Market?. Here are a few excerpts on the impact of mortgage rates on home sales and house prices.
Click on graph for larger image.
The inventory situation may mean that prices remain more resilient in the current housing cycle despite the recent surge in interest rates. Even then, past examples of rate spikes have only had moderate impacts on housing.
Using the same home sales data from above, let s highlight previous rate spikes so we can see the impact.