San Diego Housing Market News and Analysis
Tradeoff between higher interest rates and home prices
User Forum Topic
Submitted by werewolf34 on February 17, 2010 - 12:03pm
Can somebody talk me through how I should analyze the effects of higher interests on home prices?
I know higher rates mean lower home prices (generally) b/c people think monthly payments when buying a home.
More specifically, I've been told that a 1% rate increase lowers a home price (SFR) about $100K as a rule of thumb. Does this rule hold for SD?
What about condos?
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