Nearly 82% of home shoppers reported feeling “locked in” by their existing low-rate mortgage, according to Realtor.com, while around 1 in 7 homeowners without a selling plan cited their current low rate as their reason for remaining on the sidelines.
Isn’t this one of the big problems right now? Most of the buying is coming from corporations who turn around and provide rentals at jacked up rates. Even if I wanted to sell now, I would have to settle for one of those rentals or put most of that money back into a new mortgage at an inflated cost and interest rate.