Which bubble? A refi bubble? Maybe (but that's more of a fad than a bubble) Real estate bubble? Sort of. Housing affordability bubble? Not really. Interest r

Which bubble? A refi bubble? Maybe (but that's more of a fad than a bubble) Real estate bubble? Sort of. Housing affordability bubble? Not really. Interest rates move profits from home sellers to banks. Housing affordability is driven by supply+demand. Housing prices are driven by" Affordability minus Interest Rates: Low Rates + High Price = Monthly Payment = High Rates + Lower Price