Rising mortgage interest rates are going to slow down the red-hot mortgage market, right? Well, according to the National Association of Realtors, maybe not. The national trade group of real estate professionals thinks the recent spike in mortgage rates may be just the thing to bring hesitant buyers off the fence and to the closing table.
As backwards as it sounds, could higher prices really translate to higher mortgage sales? In the video below, Motley Fool contributor Jay Jenkins takes a closer look at the implications of such a phenomena for mortgage lenders like Wells Fargo (NYSE:WFC), JPMorgan Chase (NYSE:JPM), and Bank of America (NYSE:BAC).
Fool contributor Jay Jenkins has no position in any stocks mentioned. The Motley Fool recommends Bank of America and Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.