From:
Columbia Business School Professor Tomasz Piskorski spoke with The Washington Post reporter Julie Z. Weil about the growing “mortgage lock-in” effect and its implications for the U.S. housing market. Piskorski explained that homeowners who secured ultra-low mortgage rates in recent years are reluctant to sell and take on higher borrowing costs, reducing housing turnover and limiting available supply. He noted that this dynamic can dampen mobility, constrain affordability for buyers, and slow broader housing market adjustments even as interest rates evolve.
