5 ‘Frozen’ Housing Markets This Winter — Plus What Potential Buyers and Sellers Can Do

Homeowners nationwide continue to feel the mortgage “lock-in effect,” with many choosing to stay put rather than trade low pandemic-era rates for today’s higher monthly payments. A Realtor.com report found that this lock-in effect is mainly felt in expensive coastal markets, leaving homeowners “frozen” in terms of mobility and inventory growth. According to the publication, the typical U.S. mortgage holder pays about $1,300 in principal and interest per month. But if they were to purchase a home today, t ...