A recent Redfin survey found that despite the Fed's likeliness to raise interest rates, only 6% of homebuyers have this as their top concern. Forbes contributor Lorraine Woellert reports on the unwavering nature of these buyers in the face of an interest hike.
Even a mortgage rate of 5% doesn't appear to completely scare them off:
What if rates spike a point to 5 percent or more? Buyers would look for a cheaper house (47%), save for a larger down payment (22%), or not react at all. Only 14 percent would give up looking. That’s in line with what they told us in July, when a rate hike was far from a done deal, unlike now, when it’s all but certain.
To learn more about the effect of this likely hike, head over to Forbes: