Mortgage lock-ins: move it and lose it

Existing mortgages carry a lower interest rate than new ones. Nobody wants to move, so there is nothing to buy.

Hi! I’m Aziz. My newsletter contextualizes economic news using data visualization. These days I’m focusing on housing—let me know what you think by replying to this email.

The most notable feature of today’s residential housing market is that inventory for sale is absurdly low. There are only about 600,000 homes on the market, compared to 1.5 million in…