Shift occurring in US housing market as mortgage lock loosens up
(Bloomberg) — More older lower-rate mortgages are being replaced by newer borrowing with higher financing costs, gradually pushing up the average loan rate for US homes, Intercontinental Exchange Inc. data show. Most Read from Bloomberg Four million first-lien mortgages originated since 2022 have a rate above 6.5%, and about 1.9 million these have a rate