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News Now

Market
Consumers see brighter mortgage availability picture
WASHINGTON (2/12/14)--Consumers are beginning to perceive an easing in mortgage credit availability, according to a Fannie Mae January 2014 national survey of consumer attitudes in housing. More consumers believe they could get a mortgage easily and fewer thought it would be difficult, apparently showing consensus among optimists and pessimists that mortgage credit is becoming more accessible.

Attitudes climbed to an all-time survey high of 52%--a two percentage point jump--in how easily consumers believed they could get a house loan.  Those who thought it would be difficult to land a loan dropped three points, down to 45% (HousingWire Feb. 11).

Other survey findings highlighted by HousingWire included:
  • The average expectation of a 12-month home-price change dropped from last month, to 2%;
  • The share of people expecting home prices will remain stable in the next 12 months increased seven percentage points to 45%, while the share who predict increases in home prices over that period dropped six percentage points to 43%;
  • Respondents who say mortgage rates will go up in the next 12 months dropped by two percentage points, to 55%;
  • Well more than half of respondents believe it is a good time to buy a house, but their numbers went down two percentage points to 65%;
  • Those who say it is a good time to sell a house increased 5 percentage points from last month, to 38% from 33%;
  •  The economy is on the right track according to just 39% of respondents, but that is an eight-percentage point climb from last month; and,
  • Back to the optimists, the percentage of survey particpants who expect their personal financial situation to improve over the next  year is up over last month, to 44%.


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