Americans Not Deterred by Rising Mortgage Interest Rates; Expectations for Improvement in Housing Sector Continue

Consumer attitudes toward the housing market are increasingly positive despite the recent steep rise in mortgage interest rates, according to results from Fannie Mae’s July 2013 National Housing Survey. The share of respondents who believe interest rates will go up over the next year increased another 5 percentage points to 62 percent, the highest level in the survey’s three-year history. Consumers also expect home prices to climb 3.9 percent on average over the next 12 months, holding steady from the May and June survey results. At the same time, the share of respondents who say it is a good time to buy a house increased to 74 percent, while the share who say it’s a good time to sell a house increased to 40 percent, matching the survey high.

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2013-08-20T21:36:56+00:00 Categories: Good Thoughts with Roger Savy|