Low Mortgage Rates Keep Some Homeowners From Selling

An article in the San Jose Mercury News points out that recent historically low mortgage rates are giving many homeowners pause when it comes to selling their homes, even if they are looking to upgrade. Mortgage rates reached an all-time low of 3.3 percent in November 2013. While rates are currently around 4.2 percent, that is still a significant increase for many. It is estimated that more than one-third of homes in the U.S. currently have rates below 4 percent. And, if rates continue to rise – as they are expected to do – by the close of 2014 even more homeowners will have reason to stay right where they are.

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