Posted To: MND NewsWire

Only one of the six components of Fannie Mae’s Home Purchase Sentiment Index (HPSI) posted a net gain in February, but the increase in the numbers of respondents who reported significantly higher income almost offset the other declines. The HPSI dipped a half point compared to January to 92.5 but remains close to its all-time high of 93.8. Year over year, the HPSI is up 8.2 points. Fannie Mae says this reflects in part consumers’ more favorable mortgage rate expectations , despite that index component moderating this month. Thirty-two percent of the respondents to the National Housing Survey on which the Index is based said their income had risen significantly over the previous 12 months for a net of 21 percent positive responses. This was up 5 percentage points from the January survey and…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: Mortgage News Daily