I think the point was that Tom Smith may have bought a house in 2020 and he pays a fixed monthly mortgage of $1787. Meanwhile, Sam Jones just bought a house yesterday and he pays a monthly mortgage of $3322 for an equivalent house.
It’s not that Tom’s payment increased. It’s just that more recent buyers like Sam are getting screwed by Biden’s policies.
Also. Tom sells his house and buys a new house.
So he has a new mortgage at a new rate.
The higher rates tend to freeze everybody in their current homes.