Each month, Fannie Mae conducts a survey of Americans to gauge home buying sentiment. Its Home Purchase Sentiment Index asks participants for their feelings about the housing market and overall economy, including home prices, mortgage rates, and whether they think it’s a good or bad time to buy or sell a home. In August, the index was relatively flat from the month before, with overall sentiment less than a point lower than July. But while the overall index was flat, there were some big swings in sentiment, particularly when it comes to buying a home and mortgage rates. According to the results, there are a growing number of Americans who think now’s a good time to buy. In fact, the share of survey respondents who said so spiked 9 percent in August and is now 21 percent higher year-over-year. Home buying sentiment is still lower than normal but it may be growing due to optimism about mortgage rates. The survey found consumers expect better rates in the months ahead, with an 11 percent increase in respondents who say rates will fall over the next year. (source)
