If you’re one of the many homeowners sitting on a 2–3% mortgage rate, you’ve likely thought:
“I’d love to move… but not if it means giving up this great rate.”

You're not alone — that low rate may feel like your best financial asset. But here’s the reality:
A low rate doesn’t help if the home no longer fits your life.

And as the data shows, more and more homeowners are reaching the same conclusion.

Homeowners Are Giving Up Their Low Rates

The “lock-in effect” — where homeowners stay put to hold on to their low mortgage - has been strong. But it’s starting to ease.

According to the latest data from the Federal Housing Finance Agency (FHFA), the share of homeowners with rates below 3% is trending down, while more are taking on 6%+ rates — despite the cost.

And it's not just a blip.

In fact, the number of mortgages with a rate above 6% has climbed to its highest level in 10 years, showing that more people are accepting today’s higher rates as the new normal.

Why Are People Moving Despite Higher Rates?

Because sometimes life can’t wait for perfect timing.
Here’s what’s driving the shift:

• New Job – You might need to relocate or shorten your commute.
• Growing Family – A new baby might mean you're running out of space.
• Divorce – Life changes often require a new beginning.
• Downsizing – The kids moved out? Less space might now make more sense.
• Being Closer to Loved Ones – After a loss or life event, priorities shift.

These are what experts call the “5 Ds” of moving: Diplomas, Diapers, Divorce, Downsizing, and Death.

As Redfin’s Chen Zhao explains:

“Life doesn’t stand still—people get new jobs, grow their families, downsize after retirement, or simply want to live in a different neighborhood. Those needs are starting to outweigh the financial benefit of clinging to a rock-bottom mortgage rate.”

How Long Have You Been Waiting?

According to Realtor.com, nearly 2 in 3 homeowners considering selling have been thinking about it for over a year.

That’s a long time to pause your goals. Your life. Your family’s future.

So maybe the real question is:
“How much longer are you willing to stay somewhere that no longer fits your life?”

Mortgage Rates May Continue to Ease

Good news: Rates are already down from their peak earlier this year, and many experts expect a bit more relief in 2026. That could make moving more affordable — or at least, easier to justify if you're already feeling stretched.

Bottom Line

Life doesn’t wait for the perfect mortgage rate.
If your home no longer works for you, maybe it’s time to move forward — not stay frozen in place.

If you're ready to explore your options in today’s market, let's talk.