#rate-lock

#rate-lock

For the past several years, the U.S. housing market has faced an unusual constraint: not a lack of buyers, but a lack of sellers willing or able to move. Millions of homeowners remain rate-locked, holding mortgages originated in 20202022 at interest rates between 2% and 4% (Federal Housing Finance Agency; Freddie Mac Primary Mortgage Market Survey). While home values have risen, the financial penalty of selling and repurchasing at today's 6%7% rates has discouraged mobility, suppressing inventory and transaction volume nationwide (National Association of Realtors; HousingWire).