The U.S. Housing Market Is Stuck in a Mortgage Rate Lock-In Gap

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The U.S. Housing Market Is Stuck in a Mortgage Rate Lock-In Gap

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
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