Redfin analyst Lorraine Woellert wades through the math, psychology, and raw data of the post-Fed liftoff period and its effects on housing's painfully-got momentum.
The conclusion, overall, is that the "vote of confidence" side of the equation, which posits that an improving economy and higher wage expectations trump the immediate impact of costlier money, will rule the day.
The wrinkle comes with home buyers at the low-end of the price and payment power spectrum. They're who a $50 a month payment increase from higher rates will hurt. Woellert writes:
So far, buyers aren’t worried. In a Redfin survey last month, only 6 percent of them said mortgage costs were a top worry.