Exit from the “Lock-in” Effect Slowed in Q1 as Home Sales Deteriorated Further and Supply Spiked

By the time they finally wanted to sell their home, it wasn’t easy anymore because demand had plunged. By Wolf Richter for WOLF STREET. Mortgages outstanding with rates below 3% declined to a share of 20.7% of all mortgages in Q1, according to data today by the Federal Housing Finance Agency…