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.”

Nov 07, 2019
CHLA Advocates Attorney Opinion Letters As Alternatives To Title Insurance

CHLA asks FHFA to explore use of the letters.

Dec 06, 2023
Helping the H.E.L.P.E.R.s

Federal bill poised to open up market to more teachers, first responders

Dec 01, 2023
Fidelity National Financial Hit By Cyberattack

Industry-leading provider of title insurance and settlement services radio silent on reported breach.

Nov 28, 2023
Citizens Bank Bids Farewell To Wholesale Mortgage Channel

In a strategic pivot, the Providence-based banking giant will stop accepting new wholesale mortgage submissions.

Nov 16, 2023
Surprising Surge In Mortgage Customer Satisfaction, J.D. Power Study Reveals

Study found first-time homebuyers were harder to satisfy, customers don't just shop rates.

Nov 16, 2023