Don’t Jump to Conclusions on Housing Sentiment -Fannie Mae

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Posted To: MND NewsWire

A dramatic uptick in consumer perceptions about household income kept Fannie Mae’s Home Purchase Sentiment (HPSI) Index from tanking in November. Even with a net increase of 11 percent in the number of respondents reporting significantly higher household income over the last 12 months (reversing a 9 point drop in October), the Index still dipped 0.5 percent, the fourth consecutive decline . Net responses to four of the six components that comprise the HPSI were down . Fannie Mae said this reflected mixed consumer attitudes on either side of the U.S. presidential election. The net share of consumers who expect mortgages rates to go down over the next year and those who believe it is now a good time to sell a home both dropped 6 percentage points from October, while the net share of those reporting…(read more)

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