What is the "lock-in" effect as mortgage rates decrease

ABC News' Alexis Christoforous is here now to explain the lock-in effect and the impact it’s having on the housing market.
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[@runfayalife]

What kinda financial advice is that to suggest adjustable rates? NEVER take an adjustable rate. Wtf?

[@jesse_-]

I have known folks that took the adjustable rate, and they paid less than people with a fixed rate. It depends who you are and what you’re trying to accomplish.

[@runfayalife]

@@jesse_- you do what you gotta do ...

[@61impala]

Im never giving up my 2.75 interest rate. My small house turned into my forever home.

[@mikeg8276]

Same

[@richardphillips8316]

Forget about it nobody's buying this year. 😈👍

[@jongonegone1262]

she said be smart and work out the ADJUSTIBLE RATE MORTAGE !!! SHE'S OUTTA HER MIND. SAME BULL AS 2008

[@trendzone3865]

These numbers are wrong.

[@sew_gal7340]

I bought literally at the beginning of the pandemic...Feb of 2021 ...at 2%...remember kids when the majority of people are fearful thats when you go all in!

[@lilacs6lolita]

same here!

[@pepperpower1652]

Go outside enjoy the night lights

[@BuhodePiedra]

Plus now sellers (in general older people) must legally have representation and buyers (in general younger people) do not necessarily need any sort of legal representation at all.. giving us even less power than we already didn’t have

[@michelleaguirre6335]

my mortgage is at 3.2% for my tiny house, I was hoping to only live at the house for five years. It's now my forever home. I'm gonna turn it into my forever dream home 😊

[@MysteryKmt]

Ooh we are being gaslit big time lately. I remember this narrative from 06-07

[@beatriceowusuachaw6210]

GOD IS FAITHFUL AND ALIVE

[@gab4690]

Keep voting blue for higher rates.

[@runfayalife]

That tells me you don't know who is running the country. The Federal Reserve isn't blue, nor red. It's invisible.

[@JohnDoe-pk2hs]

Are you honestly under the opinion you will change anyone's mind? I will not vote for Trump, but I will vote against him every single time.

[@captainbuddyfantastic4181]

Ah another bitter right winger. Keep voting red for chaos and anarchy. Nah I’ll stick with voting blue .

[@gab4690]

@@JohnDoe-pk2hs boo hoo to much truth. Show us on the doll where he hurt you.

[@beatriceowusuachaw6210]

GOD IS FAITHFUL AND ALIVE

[@captainbuddyfantastic4181]

Oh shut up with that bs