Housing Confidence Highest Since Fannie Began Keeping Track in 2011

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Posted To: MND NewsWire

Fannie Mae’s Home Purchase Sentiment Index (HPSI) made, what for it, was a significant jump in July, reaching the highest level in the history of the National Housing Survey from which it is derived. The index rose 3.3 points to 86.5 reflecting, the company said, a pick-up in housing market indicators and wages. It might also signal a shift among the Millennial generation toward buying rather than renting. Each of the six components that comprise the HPSI increased with the largest gains in sentiment about the direction of home prices. The net share of survey respondents who expect appreciation over the next year rose by 8 points after falling in June. The net share of consumers who expect a decrease in mortgage interest rates also rose 5 percentage points. While it is not one of the components…(read more)

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