Mortgage rate lock-in gap: some states have it worse in U.S. housing market
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 low-interest-rate loan for one at today’s higher rates. A new report by U.S. News & World Report has found that this lock-in effect is much worse in … Read more