Fannie Mae Home Purchase Sentiment Index Rises For 1st Time In 9 Months
The Fannie Mae Home Purchase Sentiment Index (HPSI) increased to 57.3, marking a 0.6 point increase for November.
According to National Mortgage Professional, “both consumer homebuying and home-selling sentiment are significantly lower than they were last year, which, in our view, is unsurprising considering mortgage rates have more than doubled and home prices remain elevated,” said Doug Duncan, Fannie Mae senior vice president and chief economist. “Following eight months of consecutive declines, the HPSI did tick up slightly in November, but is essentially unchanged since hitting its all-time low last month.”