Higher rates have cooled the raging-hot seller's market, but have also hurt the would-be buyer's market, creating a bit of dynamic tension overall. 

In a nutshell: We now have a more balanced market: It's still a great time to sell and, yes, it's a good time to buy. 

Here's why: 

• Higher Rates = Less Competition
• Less Competition = Increased Buyer Negotiation Power
• Increased Buyer Negotiation Power = Lower Prices

With a lower purchase price and seller concessions, you may end up with LOWER monthly payments with a 6.5% rate than you would have had with a 3.5% rate for a higher-priced property at the peak of the market.

If you are in the market: Don’t stop looking.

If you find the right house, then it is a good time to buy. At the heart of it, it’s really that simple. 

While your rate will change over time, the price you buy your house for and your property tax basis will not. 

You “date” the rate, and you "marry" the house. 

Base your decision to purchase on: 

• Your Long-Term Goals
• The House

Once you factor in the tax benefits that come with higher rates, you probably have more buying power than you think. 

Talk to your agent and your lender to find out how lower prices and higher rates can actually work to your advantage.