ABBA First Mortgage News

Optimism abounds in the housing market

Housing sentiment has increased for the third consecutive month after taking a dip in March. The latest Fannie Mae Home Purchase Sentiment Index (HPSI) reported a rise of 2.1 percentage points in June to 88.3 – up 5.1 percentage points year over year – due to an increase in four of the six HPSI components. “The June HPSI reading matches the previous record set in February and reflects the trend toward a sellers’ market that respondents indicated last month,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Consumers are also growing more optimistic about their ability to get a home loan, and lenders expect credit standards to ease further going forward, as shown in our Lender Sentiment Survey. “While consumer optimism on this metric is as high as we’ve seen in the survey’s seven-year history, it’s worth noting that this record is relative to the fairly tight standards in place post-crisis when we started collecting National Housing Survey data,” Duncan said. Source: Fannie Mae

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