Roughly, for every extra percentage of interest, your maximum mortage becomes 15% lower.
inventory is building back up at a rapid pace. I see lots of construction everywhere.
I imagine there is a huge backlog after the lumber price spike in 2020 has trickled back down
It depends on the area, of course, but most of the construction you're seeing is likely already purchased; developments sell well before the shovel hits the ground these days.