From HW Magazine
The mortgage industry's next real threat
Forget underwater mortgages; the real problem is mortgage rates
Negative equity lock-in represents the threat that’s been in plain view for years now. But it’s what the market doesn’t yet see coming that’s the real problem. That threat? So called “rate lock-in effects,” according to researchers at the Institute for Housing Studies and DePaul University, who studied the effect using in-depth housing data for Cook County, Chicago.