U.S. Home Purchase Sentiment Edges Up In August: Fannie Mae

www.oann.com | 2/11/2011 | Staff
urbanpatrioturbanpatriot (Posted by) Level 4
(Reuters) – U.S. consumer sentiment about buying a home ticked up in August as expectations about falling mortgage rates offset reduced optimism about home price appreciation and the timing to buy and sell a home, Fannie Mae said on Monday.

The largest U.S. home finance agency said its index on home purchase sentiment moved up 0.1 percentage point to 93.8 last month, the highest level since this measure began.

Mortgage - Rates - Levels - Autumn - Step

Mortgage rates have fallen to their lowest levels since the autumn of 2016 in step with lower U.S. bond yields because of anxiety about a softening global economy and trade tensions between China and the United States.

“Unfortunately, much of the lower interest rate environment can be attributed to global economic uncertainties, which appear to have dampened consumer sentiment regarding the direction of the economy,” Fannie Mae chief economist Doug Duncan said in a statement.

Sign - Decline - Share - Consumers - Job

A telling sign was a decline of the net share of the 1,000 consumers surveyed who said they are not worried about losing their job. It fell 4 points to 77%...
(Excerpt) Read more at: www.oann.com
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