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Why 3 of 4 U.S. Homebuyers Expect to be Stressed This Year

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A recent survey from online brokerage Owners.com says nearly three of four potential buyers surveyed (73%) fear mortgage rates will keep climbing, as rates have jumped from about 3.7% to 4.2% in the past year. About the same number (72%) expect to undergo stress as part of the purchase process, with concerns about finances seen as a major headache.

After interest rates, tied for second on the list of money issues is the temptation to go over budget and the worry that bidding wars will drive up prices — each cited by six in 10 potential homebuyers. The unstated message there appears to be that buyers recognize that housing inventory is very tight.

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IBD