With mortgage rates soaring, America’s housing market is stuck in a “mortgage rate lock-in effect,” where homeowners are unwilling to sell since it means they’ll have to trade in their ...
The average existing mortgage rate for Texans is 4.3%. As the “lock-in effect” continues to hamper home sales across the country amidst an elevated mortgage rate environment, recent research from U.S.
The jump in mortgage rates over the last two years has frozen housing markets nationwide. The vast majority of homeowners have mortgage rates well below current market levels. In fact, 81% of ...
DES MOINES — Some homeowners who bought houses in 2020 and 2021 when mortgage rates were low are hesitant to sell or buy in the current market with today’s higher interest rates, housing market ...
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