High mortgage rates have pushed consumer housing sentiment even lower, according to Fannie Mae's latest Home Purchase Sentiment Index, as more Americans are now pointing to mortgage rates rather than home prices as the primary obstacle to achieving housing affordability.
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As Mortgage Rates Reach New Highs, Consumer Sentiment Shifts
“Mortgage rates once again breached the 7% mark in August, hitting a 22-year high and doing no favors for consumer sentiment,” said Doug Duncan, Fannie Mae SVP and Chief Economist.
Read More »Housing Sentiment Lowered Among Consumer Economic Concerns
Consumer attitudes toward the real estate market slid down in August due to economic concerns, Fannie Mae reported in their newly launched Home Purchase Sentiment Index (HPSI). In August 2015, the HPSI fell 0.5 points from July to 80.8, Fannie Mae said. The sentiment level is also down from the peak reached in June 2015 of 84.7 and the index is up 5.3 points from August 2014.
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