Homeowners With 2% or 3% Mortgages - Giving Up Low Rate to Move
Did you give up your sub-3% mortgage rate? I want to hear from you!
Hello r/housebuyers! My name is Erika Giovanetti and I'm a journalist with U.S. News & World Report.
I'm working on an article to be published in September about homeowners who had a 2% or 3% mortgage rate and are deciding to upgrade, downsize, or just move into a new home with a mortgage at today's rates.
If that sounds like you, I'd love to talk to you. Specifically, I want to find out:
What prompted you to give up your low mortgage rate? (for example, did you need more space to accommodate your growing family? Maybe you just didn't like your home, or you wanted to live in a better neighborhood?)
Did you get any pushback from family or friends who thought it was a bad idea to let go of that low mortgage rate?
Did you have to make any adjustments to / compromises in your budget or lifestyle to absorb the new, higher monthly payment?
Do you regret giving up your low-rate mortgage? Do you feel relief having moved? Why or why not?
What advice would you give to someone currently feeling trapped in a home just because they have a low mortgage rate?
To be included in the article, I'd need some identifying information (i.e., "Jane Doe is a retired teacher from Newark, NJ), which can be arranged over DM. I understand the sacred anonymity of Reddit so I just wanted to let you guys know that up front.
Thank you for your time!
Proof: https://imgur.com/a/j0YsneJ / https://www.usnews.com/topics/author/erika-giovanetti
U.S. News & World Report
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