Will rapidly rising mortgage rates cause a housing crisis

Mortgage rates are rapidly rising and contributing to the economic crunch that many Americans are heavily feeling. 30 year mortgage loan rates have risen to 5.27% on average nationally. That is the highest rate average since 2009 when the nation was dealing with a major housing crisis. The rate has increased from last year's average rate of 2.9%. Housing market experts say that the interest rate will make it especially tough on first time home buyers. They also say that rising rates are pricing many Americans out of the market. What do you think? Will the rapidly rising mortgage rates cause a housing crisis in America? Let us know, below.