On: Mortgage Rates Jump Above 6%, Putting Pressure on ...

[aidenn0]

Given the fact that when the market was hottest where I live, cash offers ruled, it can't just be interest rates.

[staringback → aidenn0]

That "cash" was created by credit stemming from low interest rates. Interest rates mean more than just mortgages.

[mancerayder → aidenn0]

Cash just means no financing contingency. Some sellers don't ask for proof of funds. People were risking their deposits on the possibility that they may not get financing, others had outright cash. Both fell into the same statistic here.