Interest rates and demand

[Hersh M.]

I am looking at 30 year mortgage rate chart here - https://ycharts.com/indicators/30_year_mortgage_ra...

From end of Oct 2016 to end of Dec 2016, just in 2 months, rates have gone up from 3.5% to 4.3%. Thats a 23% rise in rates.

From what I have read about real estate, interest rates are one of the few major factors that affect real estate markets. I am curious to see if this increase has impacted the real estate demand in the markets you are familiar with. If yes, why? If no, why?