Is it a good time to buy or sell? Economists say no need to fear rate hike

First American Chief Economist, Mark Fleming, says buyers will be able to absorb the increase in borrowing costs thanks to wage hikes

While some may be concerned about rising mortgage rates, First American Chief Economist Mark Fleming says there’s no need for alarm. According to the latest Potential Home Sales Model report, the housing market could handle a 30-year, fixed-mortgage rate of 5 percent.