The US housing slump will deepen as interest rates keep rising – but it's safe to rule out a 2008-style crash, say Zillow and Redfin analysts

• Prepare for a further drop in US home prices as interest rates continue to rise, Zillow and Redfin economists told Insider. 
• Rising mortgage rates "dampen the prospect of home prices avoiding a decline," Redfin's Taylor Marr said. 
• Still, the housing market may be "healing" and consumers need not fear a 2008-style crash, according to the economists.

The US housing slump looks set to deepen this year as the steepest surge in borrowing costs since the 1980s continues to deter buyers.