Opinion: Why we need a mortgage rate reset

Even if the homeowner moved or made a purchase in the middle of this process, one of the refis would have been a purchase. We have drained the soil and run out of places to grow our crop. The hundreds of thousands of homes sold in 2022 and 2023 above 5% will want to save that $200, so the cash-out refinances and ARM loans all need to reset.

Which Homes Can You Afford?