We bought our house in 2009, and we're about to pay off the mortgage (3.5%). But we don't feel 'locked in'--we're not planning to move or sell, because we don't want to. On the other hand, we've been trying to get my mother to sell her house for years now, because it's getting to be more than she can take care of. But an 84-year-old woman who's been in the same house since 1973 doesn't feel 'locked-in' because of mortgage rates.

Original title "As Life Happens, “Locked-in” Homeowners Pay Off Below-4% Mortgages: Share Drops to 54%, Lowest since Q4 2020" compressed to fit within title limits.