The rapid growth in the economy has made some experts question whether the boom will last or whether we will see another bubble (and then burst) like the one preceding the 2008 housing crisis.
As interest rates continue to rise, this may indicate the impending collapse of the housing market. Several factors, including the current interest rate, contribute to lenders competing against one another to attract buyers.
Housing markets are intensely local, not simply national, and regional variations can be huge, even within a block. Assess the neighborhood you're looking in at a more micro level.