[Gay State Conservative]

As much as I respect Texas I hate heat,humidity and tornadoes! Also,it's the rising interest rates that are largely responsible. When people buy a house they decide “we can afford to pay “X” per month”. If interest rates are low they can pay more for the house.If they're high they can afford to pay less.

If I'm correct that means that your house is worth less with rates at 4% than it was at 3% a few months ago.

[BiglyCommentary]

Californians sell their insanely priced houses, move here with huge equity, think our prices are cheap, and outbid everyone. That’s going to on for a while.

[Presbyterian Reporter]

“””If I’m correct that means that your house is worth less with rates at 4% than it was at 3% a few months ago.”””

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Yep. You are correct. Except the current mortgage rate is 6%.

So a $500,000 house will cost $15,000 per year for a loan at 3%

And a $500,000 house will cost $30,000 per year for a loan at 6%

[BiglyCommentary]

“that means that your house is worth less with rates at 4% than it was at 3% a few months ago. “

The big influx has overridden that. Homes by me have been hitting new highs almost every week for the last several months.