Rates are still at. Historical lows
Prices have really jumped and I see buyers who have waited and really want to buy moving forward here. Over bids are still happening on the low end and high end as well
It will be interesting to see the next couple of months play out.
However, when speaking directly to Buyers I've started speaking about what the "creeping up" of rates actually means, for their monthly payments. In some cases, it's $50+ more than when rates were under 4%. It's amazing how many Buyers are not educated - by their Agent or their Lender - as to what the math equation really is with these truly all-time low rates that yes, are starting to creep up.
I think if all Realtors think this way: mathimatically speaking, how would these current rates affect monthly payments of their potential Buyers, then more people would become [more] motivated again as housing values and prices are still really good buy right now.