Housing analysts say the market has done just fine under harsher conditions.
Mortgage rates have shot up to a two-year high, but don’t be too quick to assume this will scare away home buyers. Once in the 1980s, I bought a house with a mortgage rate over 14%. If now is the time to buy, people will buy. Not that the market wouldn’t be impaired if we were at 14%, but at 4.5%, I doubt it. The bigger issue is employment.
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Housing analysts say the market has done just fine under harsher conditions.