During the pandemic-era housing market, homebuyers enjoyed sub-3% rates, ushering in a wave of homebuying among younger generations. But in the following few years, the American Dream came crashing down as mortgage rates and home prices rose, and inflation and wage stagnation set in.
That meant more homeowners in the U.S. had sub-3% mortgage rates compared with today’s 6%-range rates, creating a lock-in effect in which current homeowners refused to let go of their low mortgage rates and sell their homes only to turn around and face a much higher mortgage rate.
But now there’s a crack in the lock-in effect: Real estate investor and Reventure CEO Nick Gerli recently said that as of the end of 2025, there are actually now more
