WASHINGTON–Americans remain pessimistic when it comes to buying a house.
As the CU Daily reported, the decrease in mortgage rates has led to a surge in applications for refinancing loans, but applications for new purchase mortgages have remained relatively flat.
According to Fannie Mae’s new Home Purchase Sentiment Index (HPSI), which is a composite index designed to track
consumers’ housing-related attitudes, intentions, and perceptions, using six questions from the National Housing Survey (NHS), consumers were more pessimistic in five out of six HPSI components during June: Job Loss Concern, Mortgage Rate Outlook, Change in Household Income, Selling Conditions, and Home Price Outlook.
One Bright Spot
Buying Conditions was the only HPSI component that improved this month.
The net share of consumers (-43%) who say it is a good time to buy a home increased five percentage points since May. The share who say it is a bad time to buy (71%) decreased three percentage points. last month.
Additional findings can be seen in the charts below.
