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Stock impact report

80% of Americans think it's a bad time to buy a house [Yahoo! Finance Canada]

Federal National Mortgage Association (FNMA) 
Americans are in limbo about where the housing market could go next, but they are resolute about the conditions for buying right now. Nearly 80% of Americans think it's a bad time to buy a house, according to the Fannie Mae Home Purchase Sentiment Index (HPSI) , a survey gauging homebuying and selling confidence. The index stayed flat in April compared to the previous month as consumers adjust to elevated mortgage rates that show little promise of easing. The average rate on a 30-year loan stood at 7.22% last week. Consumer confidence is still up 8% year-over-year In addition, fewer Americans believe mortgage rates will decline over the next 12 months, sidelining buyers awaiting affordability improvement. "Housing sentiment increased from November through February, driven largely by consumer belief that mortgage rates would move lower," said Doug Duncan, Fannie Mae senior vice president and chief economist. "However, recent data showing stickier-than-expected inflation, rising Show less Read more
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