4. Higher mortgage rates would be the best thing for the housing market in a long time.
The cost of a house will be the same. It would just be divided up differently between principal and interest. The cost of the house would go down with higher rates.
The low interest rates make negotiating much harder and are only a canard to sell on the payment rather than the value -- kind of like negotiating a price of a car based solely on the monthly payments, where you end up with an overpriced car you can "afford" because you have a six year loan.
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