[quote=The-Shoveler]The Rates are so low right now that no one will want to refi out of their existing loan (unless they absolutely have too IMO).

I see this also affecting the average time between moves and maybe more people holding onto their primary as a rental if they do.

It is a once in a life time event IMO,[/quote]

That’s one of the reasons why I’m inclined to think home prices are not going to crater once rates do start to rise if they do rise slowly, provided the rest of the economy doesn’t go south. I think the majority of the buyers (at least in the more higher end homes) are probably well financed since loan requirements are still pretty stringent. I don’t think we see too many people putting <20% down for more expensive homes. I don't see a mass panic for people to sell when their payments are locked in at a historical low rate. It would be different if the buying pool were weak buyers with questionable finances, but I don't think the majority of buyers are in this category, at least not in the higher end. Things probably will trickle down when rates go up, but that seems like it might be a slow drip down...So for example, I think I'm going to end up keeping my primary and if were to sell, I probably wouldn't need to desperately drastically drop my price in a higher interest environment, since I would most likely just end up keeping it. The payments are so low and/or maybe by that time, I have no payments on this house since I was able to get a 15 year with payments that are lower than what monthly rent rates would be.