Wharton School professor Lu Liu explains what “mortgage lock-in” means for the U.S. housing market in the opening episode of our four-part Ripple Effect podcast series on real estate.
Homeowners are locked into their favorable low rates and don’t want to sell and rebuy, forgoing their rates. Her advice for people on the housing hunt, waiting for rates to drop and inventory to pick up?
“It’s very difficult to time exactly when rates come down. They may stay higher. That’s been a surprise in the latest inflation news, and so you should make your decisions based on your personal circumstances.”
#housingmarket #mortgage #firsttimehomebuyer #homeowners
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