【CNBC】High mortgage rates are trapping homeowners in place, and making renovations harder to afford

• Homeowners locked into 2-3% mortgages are staying put rather than refinancing, but with HELOCs now too expensive to tap, many are stuck unable to afford the very upgrades that would make staying worthwhile.
• Big-ticket item purchases have fallen sharply at Lowe’s and Home Depot.
• Mortgage rates hit their highest level in three years this week, above 7.5%, and according to home services platform Angi, many homeowners are staying in their current houses five years longer than they originally planned.

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