Home Purchase Sentiment Hits Record High

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Posted To: MND NewsWire

There was an unusually large bump in Fannie Mae’s Home Purchase Sentiment Index (HPSI) in July. The company said strong positive responses to questions on the National Housing Survey (NHS) about job security and interest rate declines sent the index up 2.2 points compared to June. The HPSI, at a 93.7 reading, is up 7.2 points compared to the same time last year. Five of the six components of the NHS rose on a month over month basis and four were higher year-over-year. The increase in the Index was primarily driven by an 8-percentage point increase in net positive responses to the question regarding confidence in job security. Net positive responses were at 81 percent, 16 points higher than in July 2018. Net positive responses to whether it is a good time to buy a house increased by 3 points…(read more)

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