My mortgage is a problem for the Fed, and for America
- Posted on October 2, 2026
- By Financial Times
- 17 Views
- 1 min read
In brief
The housing market faces unprecedented challenges as homeowners with favorable mortgage rates resist selling, creating market stagnation. This lock-in effect dramatically reduces housing inventory and affordability, mirroring pre-2008 crisis conditions. The Federal Reserve confronts this structural problem as trapped homeowners maintain below-market mortgages, limiting supply and driving prices higher. Economic mobility suffers when families cannot relocate for better opportunities, intensifying the affordability crisis across America.
Summary auto-generated by AI from the original publisher's content. Editorial standards.
My mortgage is a problem for the Fed, and for America
Homeowners like me are staying put, the market is frozen and affordability is as ugly as it was in the housing bubble
