Facebook Twitter Instagram
    Mortgage.info
    • First Time Homebuyer
    • Loan Programs
    • VA Programs
    • Refinancing
    Mortgage.info
    Home»News»Fannie Mae Reports Decreased Housing Confidence for March
    News

    Fannie Mae Reports Decreased Housing Confidence for March

    Tech AdminBy Tech AdminApril 15, 2017No Comments4 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Fannie Mae Reports Decreased Housing Confidence for March

    Fannie Mae’s Home Purchase Sentiment Index®(HPSI) reported a decrease among consumer’s housing confidence for March. The index decreased by 3.8 percent to this month’s 84.5 percent.

    The Index and its components

    The Home Purchase Sentiment IndexTM(HPSI) is a composite index designed to track consumers’ housing-related attitudes, intentions, and perceptions, using six questions from the National Housing Survey® (NHS).

    The HPSI is composed of the following components:

      • Good/Bad Time to Buy and Sell a Home
      • Home Price and Mortgage Rate Expectations
      • Job Concerns and Household Incomes

    The Report

    Five out of 6 HPSI components decreased, the largest being in “Good Time To Buy.” The following is a breakdown of the report:

    The net share of Americans who say it is a good time to buy a house decreased to 30 percent by 10 percentage points from the previous month. Meanwhile, those who think it is a good time to sell increased to 31 percent by 9 percentage points.

    When it comes to home price expectations, about 44 percent of Americans now believe prices will go up, a one percentage point decrease from February’s.

    Those who say rates will decrease within the next 12 months also decreased to -60 percent, a 5 percentage difference from last month’s.

    »Click Here to get Matched With a Lender»

    Less Americans are also concerned about losing their jobs. This part of the HPSI component also declined by 8 percentage to 70 percent.

    So did the fate of the component that measures the net share of Americans who believe household income increased within the last 12 months. It declined by 8 percentage points to 11 percent in March.

    Other indicators

    Other housingsurvey key indicators included in the survey are as follows:

    The number of Americans who said they would buy a home when they move decreased to 65 percent by one percentage point. Meanwhile, those who would choose to rent rose to 30 percent by one percentage point as well.

    There is also lesser enthusiasm on the belief that getting a mortgage would be easy. The net share for March fell by 2 percentage points to 54 percent. Those who believe it would be a difficult process, on the other hand, rose to 43 percent by 3 percentage points.

    Will my financial situation get better? Apparently, less and less Americans believe so. The net share for March decreased by 3 percentage points to 49 percent. Those who believe nothing will change increased by a percentage point to 38 percent, while those who are expecting their finances to be even worse in the future rose to 10 percent by 3 percentage points from the previous month.

    Is the American economy on the right track? Apparently, roughly 47 percent of Americans believe so, while there are about 41 percent who think we are treading trouble.

    What could have accounted for the decreases?

    Senior Vice President and Chief Economist of Fannie Mae Doug Duncan quotes:

    “Home purchase sentiment gave back some of the gains accumulated over the prior two months that sent the index to its survey high in February. Strong home price appreciation has turned into a double-edged sword for the housing market as it boosted the net share of consumers saying it’s a good time to sell to a record high, surpassing the plunging good time to buy indicator for the first time in the history of the survey.”

    “Home purchase sentiment gave back some of the gains accumulated over the prior two months that sent the index to its survey high in February. Strong home price appreciation has turned into a double-edged sword for the housing market as it boosted the net share of consumers saying it’s a good time to sell to a record high, surpassing the plunging good time to buy indicator for the first time in the history of the survey.”

    »Click Here to get Matched With a Lender»

    Americans buy a home consumer confidence fannie mae Home Purchase Sentiment Index housing HPSI mortgage rate sell a home
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Tech Admin

    Related Posts

    Conforming Vs. Non-conforming Mortgage Loans

    July 27, 2020

    House Bill Adjusts HMDA Requirements for Small Lenders

    February 2, 2018

    HUD: $2-Bil. Funding to Fight Homelessness in Local Communities

    January 25, 2018
    Mortgage.info
    © 2025 Mortgage.info Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.