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Mortgage Rates

Consumer Confidence in Housing Hits All-Time High

The Fannie Mae Home Purchase Sentiment Index (HPSI) increased 5.6 percentage points in February to 88.3, a new all-time high. Five of the six components that comprise the HPSI were up, and three hit record highs. 

Highlights from the HPSI include:

  • The net share of Americans who say it is a good time to buy a house rose 11 percentage points to 40 percent, rebounding strongly from last month’s survey low.
  • The net percentage of those who say it is a good time to sell increased 7 percentage points to 22 percent, reaching a new survey high.
  • The net share of Americans who say that home prices will go up increased 3 percentage points in February to 45 percent.
  • The net share of those who say mortgage rates will go down over the next 12 months remained constant for the third consecutive month at -55 percent.

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Freddie Mac: Mortgage Rates Hit Third Straight Week of Declines

Source: HousingWire

Mortgage rates dropped for the third week in a row after rising significantly after President-elect Donald Trump won the election, however, the 10-year Treasury did see an increase.

“After trending down for most of the week, the 10-year Treasury yield rose following the release of the CPI report,” Freddie Mac Chief Economist Sean Becketti said.

The 30-year fixed-rate mortgage decreased yet again to 4.09 percent for the week ending Jan. 19, 2017. This is down from last week’s 4.12 percent but still up from last year’s 3.81 percent.

The 15-year FRM decreased from last week’s 3.37 percent to 3.34 percent this week. This is still up from last year’s 3.1 percent.

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