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 (WFC -1.11%), JPMorgan Chase (JPM 0.15%), and Bank of America (BAC -1.07%).
