Low Rates Help Home Purchase Sentiment Hold Near Highs


Posted To: MND NewsWire

Consumers are beginning to buy into the idea that mortgage rates might go down, at least according to responses to the June National Housing Survey (NHS) . However, that may not mean they have a lot of confidence in housing overall. Fannie Mae says its Home Purchase Sentiment Index (HPSI), based on some NHS questions, dipped a half-point from its May near-survey high to 91.5. Without an 8-point improvement in the net positive responses to “Do you think mortgages rates will go down?” the index would have fallen far further. While those who expect further easing of rates are still in the minority, the net for the question has risen to a negative 29 percent, there are far fewer naysayers than when the question bottomed out at -56.0 percent in December. Responses to the remaining five NHS questions…(read more)

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