WLRN Public Media | By Mohamed Alkawaja
A survey found that about one in three Florida homeowners want to sell their homes but won’t because giving up their pandemic-era mortgage interest rate simply costs too much. This equates to more than 113,000 homeowners in the state.
“Low mortgage rates were once seen as a major win for homeowners, but for some, they have become a quiet constraint,” said a spokesperson for Calgary Home, which conducted the survey. “The survey shows that the mortgage lock-in effect is not just about housing supply or monthly payments. It is also affecting life decisions, from retirement plans and family choices to career moves and where people feel able to live.
This story was originally produced by WLRN, South Florida’s only public radio station at 91.3 FM, as part of a content sharing partnership with MIA Media Group. Read more at WLRN.org
