Posted 10/16/2023, 10:23:00 PM
Mortgage Lock-In Effect Creates 'Tale of Two Markets' for Homebuyers and Sellers
- Homeowners reluctant to give up low mortgage rates, creating 'lock-in effect'
- Buyers struggling with affordability as rates rise, inventory drops
- 'Tale of two markets' - sellers unwilling to give up low rates, buyers facing limited inventory
- Fannie Mae CEO It's a 'tale of two housing markets' for buyers and sellers
- Forecast Mortgage rates to remain elevated in 7% range through 2024 before dropping to 6.7%
