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The housing market’s ‘lock-in effect’ is very real

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fortune.com/2023/07/22/housing-market-inventory-map-shows-lock-in-effect

Throughout the course of the Pandemic Housing Boom, homebuyers were jumping at the opportunity to secure mortgages at ultra-low rates of 2% to 3%, creating a whirlwind of housing market transactions. But now, a growing frustration is seeping into the industry as those once tantalizingly low rates have given way to a stark reality of higher rates and fewer transactions. The…

This story from fortune.com was posted on 2023-07-22 by @earthed.

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