If you bought a home when mortgage rates were below 3%, the current housing market can feel like a nightmare. Many homeowners are stuck because today’s rates are much higher, making refinancing or moving much more expensive.
Why it feels paralyzing
- Homeowners who locked in 2.5%–3% rates are paying far less than anyone buying today.
- Moving or upgrading now means taking on higher monthly payments, even if home values have gone up.
- Some say having a 2.5% mortgage is like getting “free money”, and leaving that deal is hard to justify.
What experts say
Financial advisors explain that while the market is tough, homeowners shouldn’t panic. Many are choosing to stay put, enjoying their low rates, rather than taking on more expensive debt.
The human side
For some, it’s not just numbers—it’s a feeling of being trapped in a home they love, unable to make the moves they want.
Bottom line
If you bought a house during the ultra-low rate era, today’s mortgage landscape might make it feel impossible to sell or refinance—but your current rate is a powerful advantage. Ask us! Call or text us now +13478316085.