(Read more: What you need to know if Fannie and Freddie go)

“Consumers have taken the interest rate rise in stride. Expectations for continued improvement in housing persist, and sentiment toward the current buying and selling environment is back on track from its dip last month,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “These results are consistent with our own analysis of previous housing cycles, which finds that interest rates and home prices are not strongly correlated.”

(Read more: Taking your calls now: Obama sells housing agenda via Zillow)

Another survey from home builder PulteGroup found 43 percent of move-up buyers indicating they are planning to buy a new home within the next five years, with 76 percent saying they believe they can sell their current home within the next two years for enough to move up. Pulte targets the move-up buyer.

Mortgage applications to purchase a newly built home rose 14 percent month to month, according to the Mortgage Bankers Association, but new home buyers may be less sensitive to rates, as builders can buy down mortgage rates as part of the deal.

It all prompts the question: With rates still historically low, does a 1 percentage point jump in rates really matter?

Article source: http://www.cnbc.com/id/100952350

Talk about getting some bang for your buck. This 1873 classical Greek revival home is priced at $899,900 and measures 11,544 square feet, roughly three times the Painted Lady’s space.

This historic home located in York, Pennsylvania has hosted presidents, cabinet members and even military generals within its spacious walls. It has 10 bedrooms, six bathrooms and nine fireplaces.

The 1.85 acre estate comes with a carriage house that’s been converted into a four-car garage. The house also includes an elevator, a barn and 10 chandeliers.

But does bigger always mean the better value?

“Better value without a question, metrics say is York,” she said. “But you really have to go with what’s going to appreciate most in the next five years and if you ask me, there’s no question it’s Painted Lady. Painted Lady is in a top suburb of Chicago, it’s an exciting place to live, right near Chicago. And that’s going to get the buyers.”

Article source: http://www.cnbc.com/id/100662286