Mortgage
According to JPMorgan, the housing market is beginning to show signs of improvement with more ‘mortgage lock’ homes entering the market for sale.
The housing market in the US is showing signs of recovery, with an increasing number of mortgage-locked homes being put up for sale and existing-home sales rising by nearly 10% in February. The mortgage lock-in effect, where homeowners are hesitant to sell due to lower interest rates, has slowed housing activity in the past. However, recent data shows that home sales are increasing and existing-home inventory is rising. This is due to homeowners realizing that mortgage rates are not decreasing anytime soon, adding much-needed inventory to the market. The housing sector is slowly turning a corner, but a full recovery will likely be gradual, with researchers warning that the mortgage lock-in effect could persist for years unless mortgage rates drop.
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