Why 85% of homeowners are “locked-in”

The pandemic’s historically-low interest rates have created an interesting phenomena called the “locked-in” effect. As interest rates spike to the highest level since 2008 (with the most recent Fed hike coming just Wednesday, up 0.75%), more homeowners are opting to keep their home and their lower interest rate. According to recording companies:

-A full 85% of homeowners with a mortgage have a rate of less than 6%

-New listings were down 19% in early September

Our take

We can’t blame these homeowners for staying put. It makes complete sense. This is why we always try to keep a list of homes for off-market listings in prime areas. Regardless of this data, we think everybody has a price. If you just knock on the right door or cold call the right number, you never know what might happen!



We are one of Chicago’s leading providers of comprehensive real estate services. We are home to an ever-growing team of savvy & reputable local realtors who are community leaders, and customer-service-oriented staff. Whether you’re looking to find a new home, sell your home, or invest in your future; let us be your trusted real estate advisors.

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