It so far doesn't matter how high mortgage rates go; home prices continue to set record highs. The S&P CoreLogic Case-Shiller National Home Price Index increased 0.7% in September from August on a seasonally adjusted basis,

Sales of new U.S. single-family homes fell more than expected in October as higher mortgage rates squeezed out buyers even as builders cut prices, but the setback is likely temporary amid a persistent shortage of previously owned houses on the market.

That comes as interest rates hit a peak of 7.79% in the last week of October — the highest rate in two decades. Since then, rates have declined, but only modestly, to 7.44%. Even with slowing sales, most buyers aren’t withdrawing from the market solely because of interest rates.

So far, it doesn't matter how high mortgage rates go; home prices continue to set record highs. The S&P CoreLogic Case-Shiller National Home Price Index increased 0.7% in September from August on a seasonally adjusted basis,

New home sales fell further than expected in October—a sign that mortgage rates’ rise to 23-year highs pushed some buyers out of the market. The seasonally adjusted annual rate of contract signings to purchase new homes fell to 679,

Sales of new homes declined in October, showing that the housing market is languishing under the pressure of soaring mortgage rates.