Homeowners locked into low mortgage rates are stuck in place because new loans cost so much more. With rates high in March 2025, selling means losing that advantage, so the housing market stays frozen.
Why are all of these home services so potentially lucrative now and for the next five years I believe interest rates are going to remain high. I think that it took us 40 years to get to where the interest rates went down to 2% and it took us 18 months to get them above 7. If you look at the 30 year mortgage right now which is dictated by the 10 year and the bond markets the 10 year is indicating that the rates are going to hold right where they're at. FOMC just said that they're not going to cut rates anytime soon. So if we're going to hold right where we're at interest rates are going to be high. 75% of America has less than 4% mortgage rates on their homes. Who and you guys here have heard me beat on this a number of times. Who in their right mind it's simple math is going to come off of a 1.75 mortgage rate or a 2.25 or a 2.75 or 3 right to move into a home at 7%.
