What is the name and the mathematical model of this effect
I know that this is called price “stickiness”. Price “flexibility” is when something such as interest rates would bring prices to equilibrium quickly. Price stickiness in this case could have a delayed effect as you mentioned. We could also call this “elasticity”. For simple models rise over run can measure price elasticity. For example, a 5% change in interest rates, and it’s corresponding impact on prices could be measured by slope (rise/run).