Will Rising Rates Lead to Buyer Rush? Mortgage rates soared to a two-year high last week, rising by the largest pace since 1987. Freddie Mac reported the average 30-year fixed-rate mortgage climbed.
Home buyers may be concerned that the rising rates will dampen housing affordability. But economists say that rising rates shouldn’t derail the housing market recovery.
As rates have edged up recently, pending home sales have moved up too. They rose 6.7 percent in May from April—at the highest rate since late 2006, First-time buyers losing out as home sales rise, As home prices rise, first-time home buyers may increasingly get left on the sidelines
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