Mortgage Lock-In Persists, With Ultralow Rate Holders Refusing To Budge
The housing market’s gradual thaw slowed at the start of the year, as nearly half of all outstanding mortgages remained locked in at rates of 4% or lower. In the first quarter of 2026, the share of mortgages with ultralow COVID-19 pandemic-era rates of 3% and below registered at 19.5%, barely budging from the end…