First American Chief Economist Mark Fleming was quoted Tuesday in a feature article on Forbes.com, explaining how rising rates can increase housing demand.

“The fact that rates are rising actually causes demand—particularly first-time home buyer demand—as they try to crowd into the market and lock in a mortgage rate and price before both go even higher.”

Mark also provided some perspective on the impact of rising rates on the housing market.

“Even when both mortgage rates and real, consumer house-buying power-adjusted house prices were significantly higher than they are today, people still bought homes,” he said. “Our home purchase decisions are often less financially motivated than personal preference driven."

Read the full article on Forbes.com