There's 3 seconds left on the clock. You're down by one point. Who do you give the basketball to?

Lebron James? Steph Curry?

Nope. You put it in the hands of 8th Grader Cooper Thorson.

He just hit the shot of a lifetime.

We talk a lot about homeowners being rate-locked into their homes as rates have increased. It's true that 93% of outstanding mortgages were locked in below 6% as of Q2 2022. But 42% of owned homes have no mortgage associated with them, making them immune from the lock-in effect.