Mortgage rates are rising, but what does this mean for the housing market? Housing experts say rising rates are likely to slowdown the recovery, but it won't stop it completely.


"It clearly is a risk to the housing outlook because everybody's looking for housing, basically, to be the engine of growth going forward, and it's obviously showing some early signs of pulling back. No surprise in the fact that interest rates are a bit higher,” Bank of America Merrill Lynch Senior U.S. Economist Michael Hanson said.