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Fannie Mae's Home Purchase Sentiment Index (HPSI) is on a roll. The company's index, based on some of the results from Fannie Mae's National Housing Survey, increased for the third consecutive month in January and is 8.3 points higher than in January 2019. The HPSI rose 1.3 points to 93.0. The survey high, set last year, was 93.8. Four of the six index components rose month-over-month. The two that lost ground were down both from December and from a year earlier. The index's strongest component was the one measuring consumer opinion about the direction of interest rates. That component has been at a net negative reading for several years, indicating that most respondents expected rates to increase. While the net is still negative, 48 percent of respondents now expect rates to be stable over
Housing News
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Fannie Mae's Home Purchase Sentiment Index (HPSI) is on a roll. The company's index, based on some of the results from Fannie Mae's National Housing Survey, increased for the third consecutive month in January and is 8.3 points higher than in January... (read more)
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Mortgage Rate Watch
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Mortgage rates completely defied the odds. They even defied convention. Specifically, they managed to move appreciably lower even though today's big jobs report basically told them not to. This is a big deal for several reasons. The jobs report is hi... (read more)
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Housing News
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It seems every data source in the housing industry has its own definition of affordability, most using a mortgage payment to income ratio based on median home prices and median incomes. While the National Association of Home Builders (NAHB) has an in... (read more)
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MBS Commentary
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Here's one of those NFP mornings where it would have been very hard to predict what we're seeing in bonds based on what we've seen in the NFP numbers. The jobs report itself was solidly stronger than expected, but bonds spent almost no time mov... (read more)
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Rob Chrisman
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I can’t predict the future, don’t even know what I’m doing for lunch today, but in October this commentary suggested that with the MOU inked in October between HUD and the Department of Justice centered on alleviating some of the un... (read more)
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Housing News
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The availability of mortgage credit declined slightly last month. The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) dipped 0.2 percent to 181.9 in January. A decline in the MCAI indicates that lending standards are t... (read more)
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