No noticeable spike at all.

I dont see that causing a big up tick in defaults. plus the buyers were much more qualified.I can see it on teh commerical side though .. with those that bought cash flow that only works at X and now they go to refi and its Y .. as they had 20 due in 5 loans.. i can see saw pain there. did not read the article but I will .. but wanted to comment on why i dont see a big spike in defaults being tied to interest rates.. i see sales slowing.. and such.. but not a direct line to defaults.

Pretty sure you can do the math.And you are right, it is hard to keep this up and you can see the spikes and downs which is why I have multiple accounts and different source income. 

I went through the 2007 market crash, and the net effect on mobile home parks was a spike in demand and higher rents (as our rents mirror the apartment rents, which had a huge run after 2007).

Definitely expect a spike!

Sellers tend to take many months to see if interest rate spike was temporary and settles back down or now the increase is a (new normal) and seller has to adjust price to sell.

I have no doubt that cap rate compression will slow, I just don't think interest rate spikes are totally to blame. 

They usually exhibit a “flat” growth curve with no major spikes or declines.

I wrote that article several months ago when rates had spiked.

Construction costs are spiking, making it impossible to replace product that rents for $800 - $1200, which happens to be the range most can afford.