General World News

First-time homebuyers feeling squeezed out of the market

Budget-tightening constraints of inflation, higher mortgage rates, and housing price gains are constraining consumers from buying houses. Fannie Mae‘s Home Purchase Sentiment Index, which tracks the housing market and consumer confidence to sell or buy a home, dropped by 4.7 points to 68.5 in April, marking the lowest level since May 2020. Compared with the same period in 2021, the HPSI is down 10.5 points.

All six of the index’s components, which ask consumers whether it’s a good time to buy, sell, and in what direction mortgage rates will move, decreased from last month. A survey-high of 76% of consumers believe details ⇒

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