Mortgage rate lock-in gap: some states have it worse in U.S. housing market
Briefly

from New York Post6 months ago
The national average 'lock-in gap' between rates on new and existing mortgages is 3.15 percentage points, resulting in increased monthly payments for homebuyers, especially in states with wider gaps.
New York Posthttps://nypost.com/2024/07/19/real-estate/mortgage-rate-lock-in-gap-some-states-have-it-worse-in-u-s-housing-market/
Colorado has the widest mortgage rate lock-in gap, with a significant difference of 3.45 percentage points between existing and new mortgage rates, leading to higher monthly payments for homeowners in the state.
New York Posthttps://nypost.com/2024/07/19/real-estate/mortgage-rate-lock-in-gap-some-states-have-it-worse-in-u-s-housing-market/
Read at New York Post
#mortgage-rates #housing-market #lock-in-effect #state-disparities
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