Recent research from –Fannie Mae (FNMA)–, one of the largest lenders in the United States, shows that consumer confidence in their personal financial situations has risen, but they are still hesitant to purchase homes. This could be an indicator of potential buyers waiting for more clarity in terms of economy, interest rate, and job security before making a large purchase benefitting from a historically low interest rate.
FNMA’s survey revealed that consumer confidence in their personal financial situation was up 8 points from last month to 85. At the same time, however, their home purchase sentiment index, which measures the share of those with the availability, motivation, and confidence to enter the housing market, was down 12 points from last month to just 46.
Major points in this text include:
• Consumer confidence in their personal financial situation increased 8 points from last month to 85
• Home purchase sentiment index down 12 points from last month to 46
• Potential buyers may be cautious due to economic, interest rate, and job security uncertainty
• FNMA is one of the largest lenders in the US
You can read this full article at: https://www.housingwire.com/articles/a-record-82-of-consumers-reported-that-its-a-bad-time-to-buy-a-home/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
