So far, that hasn't had a chilling effect on applications.
The latest survey data shows that homebuilders have a positive outlook despite inflation and supply chain woes.
Higher interest rates could slow down price growth, according to housing economists.
After a pause, HELOCs could regain popularity if mortgage interest rates rise.
It opens the door to interest rate hikes.
With mortgage rates around 3%, many of those who might benefit the most from refinancing and reducing their monthly payments aren’t able to.
A report from the Mortgage Bankers Association says environmental risk will likely lead to higher insurance premiums and loan interest rates.
Rates could soon start ticking up, but homebuyers are mostly focused on the size of that monthly mortgage payment.
Prices climbed 11% year over year in metro areas, driven by the limited number of homes for sale and low mortgage rates.
Many people may have already locked in ultra-low mortgage rates over the past year.