61% of CO Mortgage Holders Have a Rate < 4%

Back on April 19th Redfin released a report on how many homeowners have a mortgage rate < 4% as of December 31st based on data from FHFA. Nationally about 51% of homeowners with a mortgage have a rate < 4%. Here in CO 61% of homeowners with a mortgage have a rate below 4%. How will this impact the supply of homes for sale? I am concerned that many of these homeowners will not list their home for sale unless they are moving down in price which is rare. In Colorado 29% of homeowners don’t have a mortgage, thus the Rate-Lock Effect is not impacting them. Maybe you should focus on these homeowners to find new listings.