It has data driven facts, such as “historically, high mortgage rates tend to be associated with periods of strong economic growth, low employment, strong wage growth and high inflation. These conditions usually mean that people have more money to spend so they’re also associated with increases, not decreases, in home prices. The one exception cited in the research: rapid increases in mortgage rates like the ones we’ve experienced recently are historically associated with slower home price appreciation, he says.”
A big misconception I’m seeing right now is people thinking house prices will fall. While that may happen in limited markets, data shows prices will continue to rise, just likely as a slower rate. So if you wait to buy, you will be buying at a higher price than if you buy today. CLICK HERE to read full article.