“Higher mortgage rates still aren’t cooling the hot housing market”

“Mortgage rates have been steadily rising this year, but that doesn’t seem to be slowing demand for housing — yet.According to Freddie Mac, the average rate on a 30-year mortgage is now 3.05%, up from the all-time low of 2.67% at the end of 2020. Rising long-term bond yields could lead to even higher mortgage rates in the not-so-distant future.So the question is whether the housing market — which remained surprisingly resilient as consumers fled cities for more space in the suburbs during the early days of the coronavirus outbreak — will continue to hold up well if mortgage rates keep climbing…”

https://www.cnn.com/2021/03/17/investing/housing-market-mortgage-rates/index.html

The trend of people leaving big cities should continue. This was happening before Covid19.