Luxury Buyers Impacted By Wall Street Performance Rather Than Interest Rates

What really impacts these buyers’ bottom line, and their financial capacity and ability to buy property, is how Wall Street is performing. “Increasing mortgage rates are offset by the current strength of the stock market, which is at an all-time high,” Mr. Yun said. “This is really helping out people at upper tier income brackets.”

U.S. dollar and other global currencies. While an increased interest rate might lead to a devaluation of the dollar, as compared to the pound or the Euro, for instance, that’s not a sure thing, experts say, and isn’t likely to be significant enough to really impact sales.

Foreign buyers often come to the U.S. for stability, Mr. Parker said. “I don’t think  they’re standing by the sidelines waiting for their currency to go up or the dollar to fall,” he continued. “They’re making decisions based on where their money is going to be safe.”