Fannie: Consumer Attitudes on Housing Market Improving

Consumer attitudes toward the housing market are increasingly positive despite the recent rise in mortgage interest rates, Fannie Mae reported. Fannie’s July National Housing Survey found that the share of respondents who believe interest rates will go up over the next year increased 5 percentage points to 62 percent, the highest level in the survey’s three-year history.

Consumers also expect home prices to climb an average of 3.9 percent over the next 12 months, holding steady from the May and June surveys. Meanwhile, the share of respondents who said it is a good time to buy a house increased to 74 percent, while the share who said it’s a good time to sell a house increased to 40 percent, matching the survey high.

--ICBA