“Locked-in” Homeowners Nevertheless Pay Off Below-4% Mortgages: their Share of All Mortgages Outstanding Drops to 55%, Lowest since Q1 2021

The share of mortgages outstanding with rates below 3% – as close to free money as regular folks could get – has been declining slowly but steadily to 21.3% of all mortgages outstanding at the end of Q3 2024, from the peak in Q1 2022...