The lock-in effect Among U.S. mortgage borrowers, 96.3% have a mortgage rate below 6%, and they aren’t willing to give it up. The result is the fewest U.S. homes for sale since 2012. 26% have a rate under 3.00% · 70.7% have a rate under 4.00% · 91% have a rate under 5.00% · 96.3% have a rate under 6.00% This doesn’t mean we can’t find that home for you or if you are...
July 2023
This article was sent to me by one of my mortgage lenders. It is really good and I thought I would post it here for all to see. Provided by Dow Jones By Holden Lewis --This article is reprinted by permission from NerdWallet. If you want to buy a home, it's tempting to be in denial that this is happening. The era of low mortgage rates is over. Embracing this reality will hasten your owning a...