1 in 3 Homeowners Say Nothing Will Entice Them to Give Up Their Low Rates
Check Out This Weeks Newsletter Best Interest Financial and Clever Real Estate survey shows 35% of sub-6% homeowners won’t sell, 47% can’t afford today’s rates, and inventory remains stuck. One in three homeowners with a rate under 6% say they wouldn’t give it up for any reason. It’s not just your imagination. Plenty of sellers still have rates below 6% locked in. And the majority of them? Not budging. Not without a life-altering motivation, anyway. And sometimes not even then. According to a recent survey of 1,000 mortgage holders from Best Interest Financial and Clever Real Estate, a large share of homeowners are holding tight to the rates they locked in during the pandemic era. Inventory feels tight. Listings aren’t showing up the way they used to. Even when homeowners talk about moving, a lot of those conversations stall out before anything actually happens. This goes beyond a simple supply problem. Mortgage rates and affordability pressure a...