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THE LATEST
SECONDARY
MARKET
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TH E M R EP O RT
The Time
is Now
According to most
Americans, now's a better
time to buy a house than ever.
A
s summer heats up, so does
the housing market. Accord-
ing to the most recent Fannie
Mae Home Purchase Sentiment
Index (HPSI), more and more Americans
feel now is a good time to buy. June's in-
dex saw a 2.1 jump from May, ending up
at 88.3 percent—matching the all-time high
seen in February.
According to Fannie Mae Chief
Economist Doug Duncan, the HPSI also
reflects a growing sellers' market. Month
over month, the net percentage of respon
-
dents who indicated it's a good time to
sell rose to 39 percent, a new high and 7
percent increase from May.
However, there are still some clouds on
the horizon.
"While consumer optimism on this
metric is as high as we've seen in the
survey's seven-year history, it's worth not
-
ing that this record is relative to the fairly
tight standards in place post-crisis when
we started collecting National Housing
Survey data," Duncan said. "Nevertheless,
in the face of very tight housing supply,
easing credit standards may fail to have
the desired effect and could have the un
-
intended consequence of fueling further
house price increases."
Though Americans seem to feel
optimistically about the housing market,
they aren't as confident in other sectors,
according to Fannie Mae. The net share
of respondents who reported they weren't
concerned about losing their jobs dropped
by 5 percent to 66 percent, while those
who reported their household income is
higher than a year ago fell 1 percent to 17
percent.
www.fico.com/ficoscore9/mortgage
© 2016 Fair Isaac Corporation. All rights reserved.
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