Marketplace The housing market is "locked in"
29 snips
Sep 29, 2025 Pending home sales saw a small boost in August, but many homeowners are hesitant to move due to low mortgage rates. Banks are cautiously responding to the Fed's rate cuts, affecting loan rates amid competitive deposits. A former nurse shares how rising living costs impact her family. Retailers face uncertainty for holiday hiring as they deal with fluctuating demand and automation. Meanwhile, tech companies are increasingly looking to nuclear power as a sustainable energy solution for data centers.
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Housing Market Still Locked In
- Mortgage-rate declines modestly boosted pending home sales but didn't create a frenzy.
- High carrying costs and a rate 'lock-in' keep many owners from moving despite slight rate relief.
Twin Cities Buyers Get Second Showings
- Patty Jo Fitzpatrick described buyers getting two showings again, a luxury in recent years.
- She said a bit more inventory appeared after mortgage rates cooled this summer.
Most Borrowers Are Rate-Locked
- About 80% of borrowers have much lower rates than today's averages and are reluctant to move.
- That borrower 'lock-in' materially reduces mobility and new transactions in the housing market.