That super-low mortgage rate might not be saving you as much money as you think.

In this episode, Todd sits down with mortgage expert Patrick Glaros and Ian Daniels to talk about the “lock-in effect” and why homeowners with 2% and 3% mortgage rates may be holding onto them at a much bigger cost than they realize.

We break down how keeping a low mortgage rate can impact your bigger financial picture, especially if you’re carrying high-interest credit card debt, auto loans, or other consumer debt. We also discuss options like home equity loans and HELOCs that may allow homeowners to access equity without giving up their existing first mortgage.

But this conversation isn’t only about the math.

Sometimes staying locked into a house because of the interest rate can keep your family from moving closer to ...