New home sales increased 2.3% last month, beating expectations, but are still down nearly 27% from last year.

BHS CEO Bess Freedman stopped by CNBC's The Exchange to discuss what's going on with rates, and where you can still find opportunities in the housing market. "The market is there to serve you, not instruct you," she said.

Watch the interview in full above. To learn more about Bess and her background, click here.