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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.'

    --Stan Humphries,

    Zillow



     
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