I see your point on theory, but in practical application in the 14 years in business I have never seen someone not buy a house because the interest rates went up and they couldn't afford their dream home, they always compromise. Usually, it is always the opposite.
I was so glad to see interest rates rise, it got a lot of people off the fence who were trying to time the market etc.. Now they say "oh crap better buy now before they get any higher". Same with refis, besides the most intelligent lenders have long already considered the refi bussiness was a short window, those who could did along time ago. Are you long? GLTY
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