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Survey Says: Expect Low Rates to Remain
Tuesday, September 10, 2019
Funny what several dozen downticks in interest rates will do consumers' perceptions of the mortgage market. Fannie Mae said today that its Home Purchase Sentiment Index, based on selected responses to its National Housing Survey (NHS) set its second consecutive record high in August. The Index rose 0.1 point to 93.8 and is up by 5.8 points compared to August 2018. However, five of the six components that make up the survey were either flat or moved lower. The increase in the index was due solely to an 11-point increase in the net positive responses as to whether mortgage rates will go down over the next year. The net number remains negative - at -17 percent - but it has risen from -52 percent since August 2018.
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