Is the Lock-In Effect Finally Breaking?
BiggerPockets Daily
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The Shift in Mortgage Rates and the Breaking of the Lock-In Effect
This chapter explores the lock-in effect, where homeowners with low mortgage rates are reluctant to sell due to the prospect of higher rates. It also examines recent statistics, revealing that a significant portion of homeowners now face rates at or above 6%, indicating potential changes in the real estate market.
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