Home Purchase Sentiment Down Again – NMP Skip to main content

Home Purchase Sentiment Down Again

Phil Hall
Nov 07, 2019
The Fannie Mae Home Purchase Sentiment Index (HPSI) declined for the second consecutive month

The Fannie Mae Home Purchase Sentiment Index (HPSI) declined for the second consecutive month.
 
October’s HPSI dropped 2.7 points to 88.8. The HPSI hit a peak in August at 93.8. Five of the six HPSI components decreased month-over-month during October, led by a net seven-percentage point drop in the “Good Time to Buy” component and a netfive-percentage point drop in the “Household Income is Significantly Higher” component. Nonetheless, Fannie Mae did not view the data report negatively.
 
“Consumer home purchase sentiment remains robust, with the HPSI still near its survey high despite dipping for a second consecutive month,” said Doug Duncan, senior vice president and chief economist. “The ‘good time to buy’ component has declined notably, despite low mortgage rates, due in part to the persistent challenge of a lack of affordable housing supply. In turn, the net share of consumers expecting home prices to increase over the next 12 months has fallen to its lowest reading in seven years. Still, low mortgage rates and a strong labor market are supporting the index’s overall strength, which is consistent with our expectation for a modest expansion in home purchase activity in the fourth quarter.”

 
Published
Nov 07, 2019
loanDepot Dumping Brokers, Exits Wholesale

As company reports second straight quarterly loss, it announces plans to exit its wholesale business by Oct. 31, 2022.

Wholesale
Aug 09, 2022
UWM's Q2 Profit Up YOY, Despite Steep Drop In Originations

Q2 net income was up 55% from last year, while originations were down nearly 50% YOY

Industry News
Aug 09, 2022
Increasing Number Of Homes On The Market Longer

Redfin reports that 61.2% were listed for at least 30 days, up from 54.4% a year earlier.

Industry News
Aug 09, 2022
Cenlar Appoints New Chairman, Co-CEOs

Dave Applegate, the new board chair, played a major role in launch of UMBS.

Wholesale
Aug 08, 2022
Zillow Introduces AI To Home Shopping

Using Zillow's AI-generated floor plan tool, U.S. Home shoppers can get a deeper sense of a home without stepping inside.

Industry News
Aug 08, 2022
Class Action Lawsuit Filed Against Equifax Over Glitch

Complaint stems from errors in credit scores made earlier this year.

Industry News
Aug 08, 2022