Many of today’s homeowners bought or refinanced their homes before or during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak and are still lower than industry highs we've realized in the past, they are still higher than they were a couple of years ago.
