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52% of Arizona Mortgages have an interest rate under 4%. Would you give up a 3% mortgage to buy another home at 7.5%? That’s the dilemma facing millions of Arizona homeowners today. Economists call it the “Mortgage Rate Lock-In Effect,” and it has become one of the reasons fewer existing homes are coming onto the market and keeping the supply of home tight. During 2020 and 2021, mortgage rates fell to historic lows, allowing many homeowners to purchase or refinance their hom

What Today’s Market Means for Homeowners Thinking of Selling If you are thinking about selling a home in today’s market, there are both opportunities and challenges to consider. The local market is not behaving like the extremely fast seller’s market we experienced a few years ago, but it is also not showing the characteristics of a major downturn. Instead, the numbers suggest a market with relatively slight decrease in prices, lower inventory in many areas, buyers who remai