Nearly half of U.S. mortgages have one thing in common, and it’s creating a huge problem

A record share of outstanding mortgages originated during the pandemic-era low-rate period, leaving millions of homeowners reluctant to sell as borrowing costs remain elevated.

[Source images: Adobe Stock]

BY Anna-Louise Jackson

As with golden handcuffs that keep many employees from jumping ship, a golden mortgage may be preventing many homeowners from moving addresses.

A recent surge in mortgage rates that’s seen the average 30-year fixed-rate mortgage hit as high as 7.6% is keeping many........

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