Fannie Mae’s “Home Purchase Sentiment Index” revealed an all-time high in consumer’s confidence in the housing market, according to housingwire.com.
The HPSI conveys information from customers’ home purchase sentiments from Fannie Mae’s National Housing Survey, which alludes to current opinions and prospects of the housing marketing.
Although mortgage interest rates had been increasing over the past weeks, housingwire.com’s Kelsey Ramirez writes, “the second-quarter GDP sent mortgage rates right back down last week. The share of consumers who said they would buy a home if they moved increase to 67% whereas the share who said they would rent decreased to 26%”.
Shfits in the sentiments toward homebuying are expected to change in coming months, with older millennials leaning toward home ownership, according to the article.