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Survey: Americans feeling confident about finances

Posted by Mehran Aram on Tue, Feb 12, 2019 @ 05:02 AM

Fannie Mae’s Home Purchase Sentiment Index climbed 1.2 points last month to a reading of 84.7, a reversal of the 2.3 point drop in December but still shy of the all-time high of 89.5 reached a year ago. The Home Purchase Sentiment Index (HPSI) is compiled from a monthly National Housing Survey conducted by Fannie Mae.

The increase was driven by an 8-point increase in the net share of respondents who reported higher income levels and a 4-point increase in the net share of those who say now is a good time to buy a home.

However, the number of Americans who believe home prices will continue to climb has fallen 22-points since last year. This latest installment of the monthly survey is the first since the partial government shutdown that begin in December furloughed over 800,000 federal workers.

As for mortgage rates, today, conforming no-point 30-year fixed mortgage rates are averaging 4.375 percent, 15-year rates are near 3.75 percent and the 5-year ARM is averaging 4.25 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.

Topics: home prices, home buying, Fannie Mae, National Housing Survey, Mortgage rates, Home Purchase Sentiment, Housing Sentiment

ARAMCO Report - Tuesday April 7, 2015

Posted by The Aramco Group on Tue, Apr 7, 2015 @ 15:04 PM

Potential homebuyers are less likely commit to buying a home according Fannie Mae’s National Housing Survey. The number of respondents who would buy a home if they were to move went down five percentage points to 60 percent — an all-time low for the survey. These month-over-month decreases in homebuyer optimism, from February to March 2015, seem to be driven by similarly decreased expectations that personal incomes are on the rise. The share of people reporting that they thought that their incomes would “get better” in the next 12 months was 41 percent in March, 2015, down 7 percent from the levels of optimism in January. Sellers, on the other hand, were more optimistic however with 46 percent believing now is a good time to sell. Home prices rose 0.6 percent nationally from February to March according to CoreLogic. The president and CEO of that group said, “In terms of home price appreciation, this has been the hottest spring in nine years.” Meanwhile conforming no point 30 year fixed mortgage rates average 3.75 percent while 15-year rates average 3.0 percent.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Housing Market, CoreLogic, 30 year fixed rates, Fannie Mae, Housing, National Housing Survey, consumer confidence

ARAMCO Report - Monday June 9, 2014

Posted by Mehran Aram on Mon, Jun 9, 2014 @ 17:06 PM

According to Fannie Mae’s May 2014 National Housing survey, the housing market has peaked and there will be a slowdown in activity in 2014.  57 % of the respondents believe the economy is headed in the wrong direction, but 48 % believe that home prices will rise over the next 12 months.  In areas such as San Diego county the median home price of $500,000 was 1.83 % higher than April and 7.29 % higher than May 2013, this according to the S.D.A.R.

And now for something completely different:  In June of 1971, Philadelphia Phillies pitcher Rich Wise became the only player in MLB History to pitch a no hitter and hit two home runs in the same game.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at www.ARAMCO.Biz or call me at (877) 700-0942.

This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: Reverse Mortgage, Aramco Report, and now for something completely different, San Diego, Mehran Aram, Housing Market, Fannie Mae, no hitter, Baseball, National Housing Survey, Phillies, Rich Wise, home run, Mortgage rates, MLB