Rising Rates Hurting Homebuyer Sentiment -Fannie

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Posted To: MND NewsWire

Consumer perceptions about rising interest rates and stagnant income levels were the main contributors to a half-point decrease in Fannie Mae’s Home Purchase Sentiment Index ® (HPSI) in December. The HPSI, which reflects key variables from the company’s National Housing Survey (NHS), was 80.7 in December. It was the fifth consecutive month in which the index declined and the measure is 2.5 percentage points lower than in December 2015. The net share of consumers who report an income significantly higher than a year earlier fell five percentage points to a net of only 10 percent. The net of consumers expecting mortgage rates to decline over the next year fell four points to a negative 55 percent. Offsetting these numbers were a two-point rise in the net share of respondents who say it is…(read more)

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