Are interest rate increases considered damages in the event of a breach of a financed sale contract?

Pardon the repeat post; I had meant to say “interest” in the title instead of “insurance” like I had in the previous post. Damn autocorrect…

Example:

Bob has a valid contract with Alice to buy Alice’s house. The contract will be financed by a mortgage. For whatever reason, Alice decides to back out of the contract without valid cause. During the time it takes for Bob to sue for breach of contract and/or find alternative living arrangements, mortgage interest rates increase. At trial, Alice is found to have breached the contract.

Can Bob, in the above example, be awarded damages for the increased financing costs? Can these damages (and other damages) be awarded in addition to any equitable relief (i.e. specific performance) granted?

submitted by /u/Strider755
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Pardon the repeat post; I had meant to say “interest” in the title instead of “insurance” like I had in the previous post. Damn autocorrect… Example: Bob has a valid contract with Alice to buy Alice’s house. The contract will be financed by a mortgage. For whatever reason, Alice decides to back out of the contract without valid cause. During the time it takes for Bob to sue for breach of contract and/or find alternative living arrangements, mortgage interest rates increase. At trial, Alice is found to have breached the contract. Can Bob, in the above example, be awarded damages for the increased financing costs? Can these damages (and other damages) be awarded in addition to any equitable relief (i.e. specific performance) granted? submitted by /u/Strider755 [link] [comments]

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