Most people do not get that excited about a tiny interest rise.

I don't believe we will see more buyers trying to buy before that because we need more inventory and then we will see more buyers buying.  Right now buyers are trying to buy and are willing to pay thousands of dollars over the asking price ... so I don't believe a small increase in interest rates will make anyone get up and take notice.  At least not yet.  IMHO

There are more buyers than homes on the market by a long shot. So yes, they'll keep putting in offers.

Rates will be up at the end of each quarter. 

Yes, my buyers are franticly on the hunt currently. 

In Canada, we thought the interest rate will go up but Bank of Canada just announced they will hold the interest rate for now. I guess more people will be looking to buy to take advantage of the current low interest rate. And sellers might be in a rush to sell before there is any impact or uncertainty on price due to rising interest rate.

It is like we might see a blip but not a surge. Like Bob Crane, don't think people get excited about a sale increase.

The difference in the monthly payment on a loan won't be significant. It will be business as usual, i.e. supply & demand, low product and good growth

up and down,  does not really change much in the big picture,  Buyers are short sighted.

Good response by Diana Dahlberg. Buyers can't buy what is not for sale. We need more inventory! 

Always.

Let's see, how does that interest rate reflect in mortgage payment for a monthly payment on a $300,000 mortgage?
$50 won't motivate. $200 will.

I would think so, but we shall see.  I no longer expect that people will actually do what is best for them, haha.

Will - Many buyers will try to purchase in an attempt to beat the increase and others with buying power, know the monthly payment increase will not really be that much.

Yes but that will lead into the peak selling season and interest rates will still be historically low.  Prices will continue to rise and rates will increase again and prices will continue to rise.  A collapse is off in the distance but always coming.

You are nailing the crystal ball questions, Will.  

Buyers will do what they do for the reasons they do it. 

They can try all they want but with a shortage of inventory, it's a challenge and I doubt they'll buy just to buy before a smidge of an increase. 

Inventory, more supply across the board. And pushing land listings, building on that piece of dirt. That's where all the effort is right now and crystal ball for interest rates is unplugged. I'll get back to you Will Hamm on that one. There is always a real estate market, no matter what interest rates are and so many sales in a small rural market are cash, no bank needed.

interest rates have already gone up a little.  

They are trying to buy and can't find anything. They're frustrated. Rent keeps going up so maybe. I spoke with one of my lenders yesterday and he said the mortgage industry thinks rates will go up through summer and may drop a little after summer. We shall see.

Buyers will be concerned as they should but the biggest thing is no inventory for them to get that new loan.

Agents will certainly try to create that kind of hype, but in reality a 1/4 point difference is not significant in terms of monthly payment amounts.

Buy what??... My understanding is that in my area there are 250+ active agents and 96 listings.  (yeah, I know, some of you have 250 associated with an office)... It's one of the reasons I called it quits on January 6th.

No but I'm sure real estate agents will use that to try to panic sell. LOL

I think it will motivate some buyers for sure.  I do see it as having a cooling effect on prices too.