But because it has raised rates gradually, *if* gas prices remain low, the Fed has plenty of leeway to lower. That optimistic scenario took a ding in March as gas prices, which rose about 9% during.
Consumers expecting lower mortgage rates less optimistic about buying Consumer expectations of further mortgage rate drops leaves them seemingly in no rush to enter the purchase market which could be why their optimism on home buying is falling, a Fannie Mae report said.
Consumer Sentiment Toward Housing Market Dipped in February. – Consumer sentiment toward the housing market fell in February, dipping 0.4 points to a score of 84.3 on Fannie Mae’s Home purchase sentiment index (hpsi).. interestingly, consumer confidence toward income (i.e. wage growth) was the largest variable, month over month.
Homeowners took advantage of the lower rates, and a refinancing boom ensued. More than one-third of homes with a mortgage now have rates below 4 percent, real estate data provider CoreLogic estimates.
U.S. Consumer Confidence Declines With Economic Optimism Cooling; The report indicates that while Americans remain upbeat on the current state of the economy amid bountiful jobs and lower taxes, there is less confidence that gains will remain robust.
It reckons mortgage rates will probably rise only a little between now and the end of 2020. May 29, 2019 – 1 min read New data: Buyers are feeling optimistic about their home search prospects
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"Households remain upbeat about economic activity but have more mixed attitudes toward the housing market. While home selling confidence remains strong and more consumers on net expect mortgage rates to decline over the next year, respondents walked back some of their buying optimism from March," Doug Duncan, senior vice president and chief economist at Fannie Mae, said in a press release.
consumers Archives realestate.10ztalk.com – Consumers expecting lower mortgage rates less optimistic about buying a house. Consumer expectations of further mortgage rate drops leaves them seemingly in no rush to enter the purchase market which could.