Despite the success of the U.S. economy as of late, housing sentiment seems to have hit a rough patch. Fannie Mae said its Home Purchase Sentiment Index (HPSI) continued to decline in October, moving lower for the third time in four months. The index, based on responses to a portion of questions in the National Housing Survey, fell by 2.0 points to 85.7 with five of the six components posting declines and the fifth unchanged from September.
Those who expect prices to continue: fell to 37 percent Those expecting mortgage rates to move lower fell to 57 percent. those who are confident about not losing their job over the next 12 months fell 1 point but remains at a solid 78 percent.
Taken from Mortgage News Daily