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Americans in 2020 are Increasingly Confident with Homebuying, Rates
Friday, February 7, 2020
Fannie Mae's Home Purchase Sentiment Index (HPSI) is
on a roll. The company's index, based on some of the results from Fannie Mae's National
Housing Survey, increased for the third consecutive month in January and is 8.3
points higher than in January 2019. The HPSI rose 1.3 points to 93.0. The survey high, set
last year, was 93.8. Four of the six index components rose month-over-month.
The two that lost ground were down both from December and from a year earlier. The index's strongest component was the one measuring
consumer opinion about the direction of interest rates. That component has been
at a net negative reading for several years, indicating that most respondents
expected rates to increase. While the net is still negative, 48 percent of respondents
now expect rates to be stable over the next year. That has pushed the net to -26
percent, up 6 points from December and 27 points over the last year.
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