Lower Rates aren’t Helping Homebuying Attitudes

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Posted To: MND NewsWire

Even though mortgages rates have declined over the last several months, consumers remain bearish about buying a home. Fannie Mae said net positive responses to the question about whether it is a good time to buy more than reversed a 7-point increase in March, falling 8 points to 14 percent in April. That is 15 percentage points lower than the April 2018 level. That reversal was, in part, responsible for a 1.5-point decline in the Home Purchase Sentiment Index (HPSI) to a reading of 88.3. The HPSI is down 3.4 points compared with the same time last year. The “good time to buy” question is among those asked of consumers in Fannie Mae’s monthly National Housing Survey (NHS) and is one of six questions that are used to calculate the HPSI. Consumers are very much aware of the recent good news about…(read more)

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