I agree. When I was looking at the house in Sunset Cliffs a month ago the 10 yr was at 4.62%. This morning it touched 5.23%. That is a substantial increase in a months time. I feel some sellers who have some equity will start to get nervous in the coming months, and pull their chips off the table. This fall should be interesting. The struggle between sellers and buyers will turn in the buyers favor if rates continue to inch upward, and the momentum could accelerate this bear market faster than anticipated.
Everyone can afford a certain payment, and rates always affect price.
