The mortgage rate lock-in didn’t start in 2022
Housing Wire
MAY 15, 2024
housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. million in January 2021 (when mortgage rates were 2.7%) fell to 3.9 This was a supply-constrained market.
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