This is an excerpt of a HousingWire Research white paper titled: What Everyone Needs to Know about Mortgage Rate Lock-in, by Altos President Mike Simonsen.

In the 24 months beginning March 2022, the U.S. housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. After an initial rush to get to market in Q2 2022, new listings volume fell precipitously. In July 2022, new listings volume per week dropped from 90,000 at the end of June to approximately 74,000 just after the July 4th holiday. That’s a swing of 17% fewer sellers in just a details ⇒

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