The Lock-in Effect of Mortgage Rates: Are Homeowners Handcuffed?
The lock-in effect of mortgage rates is gradually becoming a concern for homeowners. Stimulated by low rates during the pandemic, many have purchased properties, locking in lower mortgage rates. However, as time passes and rates increase, some homeowners are starting to feel "handcuffed" to their properties, finding it challenging to realize desires of relocation or adjusting life plans.
Mar 25, 2024