The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased fractionally in May, however the change in each of its internal components was decidedly more pronounced. The HPSI, based on six of the questions from Fannie Mae’s monthly National Housing Survey (NHS), was 86.2, down 0.5 percent compared to April. Three of its components moved higher and three lost ground. The index is 0.9 percent higher than its May 2016 version.
Source: Mortgage News Daily