As Life Happens, “Locked-in” Homeowners Pay Off Below-4% Mortgages: Share Drops to 54%, Lowest since Q4 2020

Conversely, the share of 6%-plus mortgages outstanding surges to the highest since 2016. By Wolf Richter for WOLF STREET. The 30-year mortgage with a fixed rate of 3% for the duration of 30 years was as close to free money in an inflationary world as regular folks can get, and it would make sense…