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Survey shows Americans upbeat about housing

Fannie Mae: Consumers expect home prices and mortgage rates to rise
Published on Mar 7, 2013 | Updated on Apr 23, 2013

Americans continued to view housing as a relative bright spot in the economy, even as their sentiment towards the broader economy and household finances limped along, according to Fannie Mae's February 2013 National Housing Survey. Americans who believe home prices will increase over the next year and home price expectations for 2013 both hit their highest levels since the survey's inception in June 2010, the survey found. But confidence in personal finances, household income and the health of the overall economy kept pat or dipped, according to the survey. "Despite fiscal headwinds and political uncertainty, consumer sentiment toward housing is robust and continues to gather strength," said Doug Duncan, chief economist at Fannie Mae. Fannie Mae said that a sizable pool of borrowers eligible for refinancing, the looming expiration of the Home Affordable Refinance Program (HARP) and an increasing expectation that mortgage interest rates will creep up are likely to spur more re...

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