The Great Housing Freeze: Half of Homeowners Have a Sub-4% Mortgage Rate—and Few Reasons To Move

Nearly half of U.S. mortgages have one thing in common, and it’s creating a huge problem

As with golden handcuffs that keep many employees from jumping ship, a golden mortgage may be preventing many homeowners from moving addresses. A recent surge in mortgage rates that’s seen the average 30-year fixed-rate mortgage hit as high as 7.6% is keeping many would-be homebuyers on the sidelines—and particularly those who locked in historically low rates several years ago. Loans originated between mid-2019 and mid-2022, when rates dipped be…

Mortgage Rate Lock-In: More High-Rate Loans, Few Signs Of A Thaw

With 30-year mortgage rates above 7%, homeowners holding loans below 4% face a steep financing penalty for moving — and new data show how slowly that obstacle is easing.Nearly half of outstanding mortgages carried rates below 4% in the second quarter, according to Realtor.com’s analysis released Oct. 22. Loans with rates of 6% or higher represented 22.5% of the total, increasing just 0.3 percentage points from the previous quarter.Those figures …

The Great Housing Freeze: Half of Homeowners Have a Sub-4% Mortgage Rate—and Few Reasons To Move – Net News 1

For many U.S. homeowners, selling their house would mean losing a low mortgage rate that they may never be able…

The Great Housing Freeze: Half of Homeowners Have a Sub-4% Mortgage Rate—and Few Reasons To Move

For many U.S. homeowners, selling their house would mean losing a low mortgage rate that they may never be able to get again.http://dlvr.it/TW1P0B