They Got Low Mortgage Rates During the Pandemic. Now They Can’t Move.

During the pandemic, many Americans took advantage of historically low mortgage rates to purchase their first homes. However, as interest rates have risen, some homeowners now feel trapped by their low rates, unable to move despite wanting to relocate. Sandy Lachhman and Shaun Parmassar are among those who bought their home in 2022, just before the increase in rates, and now find themselves in a difficult position as they consider their next steps.