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Fannie Mae: Rates Only One Reason Homeowners Staying Put

Friday, Nov 03 2023
Lending
Written by  The Mortgage Leader

The “lock-in effect” from lower mortgage rates on homes bought before the recent rate surge isn’t the only reason for a decline in existing homes for sale, according to Fannie Mae. So reports MReport.

house for sale 2845213 1920In a survey by Fannie Mae, just 6% of all mortgage borrowers said they were planning to stay in their homes longer because of a low mortgage rate.

The survey results suggest rates aren’t all that might have to change to increase the inventory of existing homes, according to Fannie Mae.

Read the full article from MReport. 

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