As long as homebuyers can get a mortgage and find a home they like, the rate hikes around the corner aren’t a concern to most Americans, writes Trulia’s chief economist Selma Hepp.
“When the Feds decide to raise rates, any increase will be nominal and gradual. The anticipation is that the initial increase will be only 25 basis points (e.g., from 3.75 percent to 4.00 percent),” she writes.
With that said, mortgage rates may have to exceed six percent before they would discourage prospective buyers from buying a home.
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