Unlocking The Lock-In Effect

Today in Mortgages

The conversation discusses the lock-in effect in the mortgage industry and its impact on home sales. It highlights the challenges faced by homeowners with low interest rates who are unable to move due to the higher costs associated with buying a new home. The conversation also emphasizes the decrease in home sales and inventory due to the lock-in effect. However, there is optimism that the market is returning to normal and people are accepting the new normal of higher interest rates. The conversation concludes with a positive outlook for the future and encourages industry professionals to stay positive and resilient.
Takeaways
- The lock-in effect occurs when homeowners with low interest rates are unable to move due to the higher costs associated with buying a new home.
- The lock-in effect has led to a decrease in home sales and inventory.
- There is evidence that people are adjusting to the new normal of higher interest rates.
- The economy is resilient and is heading towards a better place.
Read the original article here: https://www.msn.com/en-us/money/realestate/high-mortgage-rates-have-prevented-the-sale-of-more-than-a-million-homes-in-the-u-s/ar-BB1ksaUc
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Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at http://nflp.com/licenses for all state licensing and other legal information. See more at http://TodayInMortgages.com Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here. Learn more about Network Funding on our parent site, http://nflp.com

See more at TodayInMortgages.com
Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.
Learn more about Network Funding on our parent site.
Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042.
The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.