Posted To: MND NewsWire

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…(read more)

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Source: Mortgage News Daily