Posted 10/9/2023, 6:22:43 PM
High Mortgage Rates Deepen Housing Gloom; Most Americans See No Respite
- Americans are pessimistic about housing - 84% say now is a bad time to buy a house according to Fannie Mae survey
- High mortgage rates over 7% deepening consumer malaise about home buying
- Mortgage rates surpassed high home prices as top reason it's a bad time to buy
- Just 17% think mortgage rates will go down in the next 12 months
- Tight inventory and high prices still propping up home values, little affordability relief seen