Why More Sellers Are Choosing To Move, Even With Today’s Rates
Why More Sellers Are Choosing To Move Even With Today’s Rates It’s hard to let go of yesterday’s 3% mortgage rate. There’s no question about it. It’s the main reason why many home owners have delayed their move in recent years. But here’s something to consider. While your low rate might be ideal, it doesn’t make up for being too cramped, living with a staircase your knees just can’t handle anymore, or being so far away from your family. And those real life needs are pushing more sellers off the fence despite today’s rates. Data shows the share of homeowners with a mortgage rate below 3% is dropping as more people move. And, as a result, the share of homeowners taking on a mortgage rate above 6% is rising, too (see graph below) : The Biggest Reasons People Are Moving Right Now Why are some homeowners willing to take on a higher rate? A survey from Realtor.com helps shed light on that. It shows 79% of homeowners considering selling today are doin...
