Are U.S. consumers actually starting to feel good about the housing market? According to a new survey from Fannie Mae, the answer to that question may be yes.
“While consumers remain cautious about the general economy, their attitudes toward the housing market continue to improve,” said Fannie Mae economist Doug Duncan in a press statement.
As part of its June national housing survey, the GSE found that 35% of consumers expect home values to increase over the coming 12 months. “In turn, the share of consumers who say they would buy if they were going to move increased by 6 percentage points” in June, the highest reading in the survey’s two-year history.
Additionally, the percentage of respondents who would rent decreased to 27% from 32%, the lowest number to date in the survey.
Currently, refis account for about 75% of all new loans originated, according to figures compiled by National Mortgage News, a ratio that will likely remain high for the next two quarters at least.
