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July 14, 2014
Sweet mortgages keep some from selling
More than one-third of homes with an existing mortgage have rates below 4 percent, CoreLogic estimates, but rates now are 4.2 percent.
By CHRISTOPHER S. RUGABER
AP Economics Writer
WASHINGTON — Would-be home sellers across the country are grappling with a once-in-a-lifetime problem: They have mortgage rates so absurdly low it would hurt them financially to sell.
'Mortgage rate lock-in is going to be a major challenge for the housing market going forward. It is going to be a constant tug of war between buyers on one side ... and mortgage rate lock-in
on the other side.'
. . .