Breakthrough Club

Fun Fact Friday!

The "rate lock" effect is one of the least talked about forces in real estate right now. Millions of homeowners are sitting on mortgages at 3 and 4 percent and they are not selling. Why would they? The result is an inventory problem that has nothing to do with demand and everything to do with math. Until rates drop significantly or life forces people to move, this does not resolve. That is why inventory stays tight even when the market slows down.