U.S. Buyers Continue to Search for Homes Despite Rising Mortgage Rates

According to U.S. brokerage firm Redfin, few homebuyers are halting their searches in the wake of rising mortgage rates. In May 2018, Redfin commissioned a survey of more than 4,000 people who had bought or sold a home in the last year, attempted to do so, or planned to do so soon. Among the more than 1,300 respondents who planned to buy a home in the coming year, just 5 percent said they'd call off their search if rates rose above 5 percent. Twenty-four percent of buyers said such an increase would have no impact on their search. These results are consistent with those from similar surveys Redfin commissioned in May and November of 2017.