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Photo-illustration of a row of houses made of money, with 16% of the frame represented in green.
Money; Getty Images

A huge portion of Americans are feeling pessimistic about homebuying at the moment — and they don’t expect circumstances to improve anytime soon.

That's according to the government-backed finance company Fannie Mae, which put out its September home purchase sentiment index and housing survey on Monday. It found that just 16% of respondents said that it was a good time to buy a house, citing rising mortgage rates as their primary reason. More people reported strained personal finances than the previous month, too, which could signal a significant slowdown in sales in the coming months.

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