A New Survey Shows That Surging Mortgage Rates Aren't Freaking Out American Homebuyers
Mortgage rates have been rising for some time now.
But, "consumers have taken the interest rate rise in stride," said Doug Duncan, chief economist at Fannie Mae in a press release. "Expectations for continued improvement in housing persist, and sentiment toward the current buying and selling environment is back on track from its dip last month."
53% of respondents believe home prices will go up in the next 12 months, down from June's high of 57%. Meanwhile, 74% say it is a good time to buy a house, compared with 72% in June. And 40% think it is a good time to sell a house, compared to 36% in June.
The survey also showed that only 54% of respondents think the economy is on the wrong track. While this was a modest improvement on June, the number of respondents who expect their personal financial situation to improve over the next 12 months fell 3 percentage points to 43%.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’
- 10 Powerful foods for lowering bad cholesterol
- Eat Well, live well: 10 Potassium-rich foods to maintain healthy blood pressure
- Bitcoin scam case: ED attaches assets worth over Rs 97 cr of Raj Kundra, Shilpa Shetty