> As mortgage rates rise, buyers increasingly look for less-expensive homes. File that under “duh”. Home buyers want to get the best house they can afford bas

> As mortgage rates rise, buyers increasingly look for less-expensive homes. File that under “duh”. Home buyers want to get the best house they can afford based on a given monthly payment amount, and as interest rates rise, the home price that you can afford for the same monthly payment decreases. Which gives rise to high interest rates actually being a good thing for prospective home buyers: you end up with lower home prices across the board and eventually you’ll be able to refinance into a lower rate.