Subject: Re: Calls: end of an era?
so many people have locked in low-rate mortgages, nobody wants to sell or can afford to

Amen. We have a 2.5% mortgage, at the current rates my payment would double. To sell and downsize, I'd have a smaller and less desirable house and have a somewhat higher payment. Yes, there are a LOT of people in that position.

We are paying 2.5% while collecting 5.5% on CDs. Kinda laughing at all the people who bragged that they paid their house off before retiring. So much more important to not have a mortgage payment than to make net 3%. Not.

I told my kids a couple of years ago to refinance their ARMs to 30 yr Fixed. Took some convincing but they all did. One got 2.25%, making me jealous.