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U.S. Homebuyers Are Getting Discouraged by Rising Rates and Prices

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Fed's Bullard Won't Rule Out 75 Basis Point Hike
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Potential homebuyers are getting discouraged by rising mortgage rates and home prices, according to a survey released on Monday by the New York Federal Reserve.

U.S. consumers expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7% a year from now and 8.2% in three years, the survey shows.