Why “mortgage handcuffs” are hurting Colorado’s housing market

Many people in Colorado bought homes or refinanced during the pandemic,  when interest rates were at historic lows. Now, they feel trapped by that low mortgage rate. They might want to sell and move, but can’t afford to buy elsewhere, with interest rates at much higher levels than four years ago.   The problem has been dubbed 'mortgage handcuffs.' This dilemma isn’t unique to Colorado, but it appears the problem is worse here than in any other state in the country, according to a recent article in the Denver Post. Host Erin O’Toole sat down with Libby Levinson-Katz - chair of the Denver Metro Association of Realtors market trends committee, and a realtor with Kentwood Real Estate out of Denver - to explain how we got here and where we might be headed. * * * * * Sign up for the In The NoCo newsletter: Visit KUNC.orgQuestions? Feedback? Story ideas? Email us: [email protected] what you're hearing? Help more people discover In The NoCo by rating the show on your favorite podcast app. Thanks!Host and Producer: Erin O'TooleProducer: Ariel LaveryExecutive Producer: Brad TurnerTheme music by Robbie ReverbAdditional music by Blue Dot SessionsIn The NoCo is a production of KUNC News and Community Radio for Northern Colorado.