Half of US Mortgages Still Carry Rates Below 4 Percent

‘The very gradual erosion is a sign of just how durable the lock-in [effect] is,’ Realtor.com’s Hannah Jones said.

A property for sale in Washington on May 19, 2025. Madalina Vasiliu/The Epoch Times

Golden handcuffs in the U.S. housing market remain firmly locked, with COVID-19 pandemic‑era mortgage rates still accounting for about half of all outstanding loans.

At the onset of the COVID-19 pandemic in 2020, the Federal Reserve slashed interest rates to zero percent to cushion the economic blows of the public health crisis.