The Higher The Mortgage Interest Rates, The More Perfect A House Must Be For A Buyer

This is a totally made up graph.  I don't know how I would actually measure "how perfect a house must be" to a buyer.  But I will point out that...

1.  When mortgage interest rates were super low, there were so many buyers competing over every new listing that home buyers were willing to compromise - often a lot - in how perfect a house had to be for them.  They just wanted to secure a contract on a house.

2.  Now, with mortgage interest rates a good bit higher (double) and with mortgage payments quite high as a result, buyers seem to have much more of a desire for a house to fit them well.  If they're going to pay *that much* on a monthly housing payment, the house better fit them pretty well!