As far as she is concerned, the Fed raising rates “is a good thing for the economy” that’ll bring inflation down. “And if you have to pay a couple of hundred dollars a month more for a mortgage to bring your overall cost of living down, so be it.”

In her estimation, rates may edge upwards, but she did nor foresee a 5% or 6% rate environment “unless everything goes to hell in a handbasket”.

There are, of course, other concerns – and the warning signs are clear. According to the National Association of Realtors, wholesale sales were down 3.8% between November and December, while inventories have slumped 28% from a year ago, according to Combine that with home prices at record highs and you can understand why homebuyers – particularly first timers – may be tearing their hair out.

But Cohn had advice for them and for the wider broker community, who may have to consider playing the role of wise counselor in addition to being a financial advisor in these challenging times.

“I haven’t really had a conversation with a buyer yet who’s panicked that they won’t be able to afford it because the Fed is going to raise rates like crazy,” she said.