Interest rate has a huge impact on housing price, as most people borrow to buy houses these days. People evaluate monthly payment more than the price. If they

Interest rate has a huge impact on housing price, as most people borrow to buy houses these days. People evaluate monthly payment more than the price. If they can afford the monthly payment, they can afford the house. Lower interest rate lowers the monthly payment. People can afford higher priced houses. When everyone does it, the general housing price goes up.