Confidence in Housing Leaning PositiveBy RISMedia Staff
Americans' confidence in housing is leaning positive, according to the August Fannie Mae Home Purchase Sentiment Index® (HPSI), recently released. However, their feelings mask some uncertainty.
"Growing expectations that mortgage rates will remain flat or decline are reflected in the HPSI's latest reading, which is now at a survey high even though other indicators of economic and housing market sentiment are flat to negative," Doug Duncan, chief economist and senior vice president at Fannie Mae, says. "Unfortunately, much of the lower interest rate environment can be attributed to global economic uncertainties, which appear to have dampened consumer sentiment regarding the direction of the economy. We do expect housing market activity to remain relatively stable, and the favorable rate environment should continue supporting increased refinance activity." In August, the HPSI ticked up to 93.8—a high point in the survey. Source: Fannie Mae |
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