Tony Lewis, Summit Real Estate Group Valencia & Aliso Viejo (Summit Real Estate Group)

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Rainmaker
985,370
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

When the right reason to move comes along, the cost of a mortgage will not be the determining factor.

For buyers who are currently in the market, the difficulty level is moving up.

May 07, 2022 08:18 AM
Rainmaker
1,417,714
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I second what John Juarez said.  I personally do not worry about interest rates, because I pay my mortgage off well before the 30 year term.

May 07, 2022 09:13 AM
Rainmaker
6,899,468
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

No. Rising interest rates will not create any housing shortages.

May 07, 2022 08:41 AM
Rainmaker
946,394
Peter Mohylsky. BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL
BRIX REALTY -DESTIN

Housing shortages are different than rising rates.  We do have a problem with affordable housing but I am not really sure what sector of our economy that will really affect.

May 07, 2022 08:21 AM
Ambassador
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

No

May 07, 2022 09:34 AM
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Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

No rising mortgage rates has nothing to do with housing shortages in my area. 

May 07, 2022 09:22 AM
Rainmaker
557,957
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

No.  The two do not affect the other.  At least not in Wisconsin.  Oh the shortages ... my buyers are feeling the pain!!!  I have written on average -- anywhere from 1 to 7 offers with a clients before we win a highly competitive bidding war.  My new saying when buyers feel bad that I have to write yet ANOTHER Offer:  No worries ... I just keep getting better at writing offers!

May 07, 2022 09:44 AM
Ambassador
3,128,250
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

No. We already have a shortage of housing. Increased rates will not increase the shortage. 

May 07, 2022 12:59 PM
Ambassador
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Rising interest rates do not affect any shortages in housing, it makes qualifying more difficult for some buyers. As long as you do not refinance, there is no rise in payment.

May 07, 2022 12:12 PM
Rainer
295,861
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

how does interest change your principle payment?

May 07, 2022 11:47 AM
Rainmaker
840,862
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Rising interest rates might deter a small portion of buyers, but that would mean slightly more inventory, not shortages.

May 07, 2022 11:40 AM
Rainmaker
680,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I'm at 2.25% and only a mortician will get me out of my house.

May 08, 2022 11:05 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

More likely the opposite, if any effect at all.

May 08, 2022 03:41 PM
Rainmaker
4,451,263
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I never hit the market at the low but have been a victim of when it was at an all time high! When you need to buy, you buy, and when you need to sell, you sell. If you hit the mortgage market at a near low and have no plans on where to go, stay put. Moving up just to move up may take a hiatus.

May 08, 2022 04:53 AM
Rainmaker
792,259
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Hard to say. I think we're going to have to wait and see. I do think there are people who will be cash buyers if they sell their home. It is the younger folks who are getting hit hard. 

May 08, 2022 04:39 AM
Rainmaker
1,351,772
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

I no matter what the rate will  in an area of heavy demand.  There will be a shortage no matter what the rate is.  Prices will most likely stabilize, however.

May 07, 2022 05:49 PM
Rainmaker
2,675,656
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Money does strange things to humans. When we lived in caves and trees, or huts and tee-pees, life was so simple. Today, we have equity and it rewards as well as plays with us for those that own. For those that don't, its oppresive

May 07, 2022 03:45 PM
Rainmaker
512,965
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

If you follow historical data from past interest rate hikes...No it will not.

May 07, 2022 01:27 PM