Buyers won't rush to beat rising mortgage rates

Buyers won't rush to beat rising mortgage rates

Will housing heat up as buyers race to beat rising rates? The media loves this concept. A reminder how foolish so much media 'analysis.'

No new data, no new Fed talk, blow out the 10-year T-note’s February-March 2.05 percent high to 2.15 percent on Tuesday, and 2.19 percent today. Mortgages are above 4 percent for the first time in more than a year, and for lower-down, middling-credit borrowers, 4.25 percent-plus.

Enough to slow housing? No. Payments versus prices are still far into all-time-low territory.

Will housing heat up as buyers race to beat rising rates? The media loves this concept. A reminder how foolish so much media “analysis.” In a long working life I’ve never once met a “not-buying” client converted into “buying-now” because rates are rising. Read more ....