The mortgage industry has seen a significant trend in recent years with the emergence of lock-ins, beginning in 2014 as interest rates began to decline. Homeowners have become increasingly hesitant to sell their homes, contributing to a decrease in housing inventory and impacting the overall real estate market. This phenomenon has had a noticeable effect on various aspects of the industry, causing both challenges and opportunities for professionals and consumers alike.
Key points:
– Lock-ins in the mortgage industry began in 2014 as interest rates decreased
– Homeowners have become more reluctant to sell their homes
– Decrease in housing inventory has impacted the real estate market
– Challenges and opportunities have arisen for industry professionals and consumers
You can read this full article at: https://www.housingwire.com/articles/the-mortgage-rate-lock-in-didnt-start-in-2022/(subscription required)
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