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Get a job ventolin inhalers online uk So will rising mortgage rates abort the housing recovery? Not likely. Assuming we aren't talking about more big jumps like we saw last week, housing markets should be able to absorb gradual increases. In fact, higher rates could cool down some overheated markets, such as we've seen in Phoenix, where housing prices have been soaring at more than 20 percent a year. A slowdown in price increases seems more likely than the dramatic drops – 30 to 40 percent – that followed the popping of the housing bubble in 2007.