Fannie Mae: Home buying sentiment falls as more Americans say now is not a good time buy

In June, Fannie’s HPSI fell by 0.5 points in June to 91.5

In June, housing confidence fell slightly as more Americans reported now is not a good time to buy, according to Fannie Mae’s latest Home Purchase Sentiment Index.

According to the GSE’s report, sentiment fell by 0.5 points in June to 91.5. Although this rate is a decline from last month’s near survey high of 92, it still remains 0.8 points higher than the same time period in 2018.

Despite this annual increase, the report indicates that a majority of its components either declined or remained relatively flat in June.

Notably, the only component to increase this month, which was the index that measures whether or not mortgage rates will go down, edged up 8 percentage points to -29%.

Fannie Mae Senior Vice President and Chief Economist Doug Duncan said growing expectations that mortgage rates will remain steady suggest improved stability for housing affordability.

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