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Rising rates discourage potential US home buyers
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A home in Chicago offered for sale on Jan 20, 2022.
PHOTO: AFP
(BLOOMBERG, NYTMES) - Potential home buyers in the United States are getting discouraged by rising mortgage rates and home prices, according to a survey by the New York Federal Reserve.
Consumers there expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7 per cent a year from now and 8.2 per cent in three years, the survey shows.
