Bad Time To Buy

The mortgage rate cooldown is giving Americans a somewhat rosier view of 2024’s housing market, sparking some optimism despite overall dour views about the state of buying and selling. That’s according to Fannie Mae’s Home Purchase Sentiment Index, which increased 2.9 points in December to a reading of 67.2. Though Americans generally see homebuying in a negative light, cooling rates pushed the “good time to buy” component of Fannie’s index up slightly month-over-month to 17%. That’s up from 14% in November, a survey low. The boost was the result of a record-high number of consumers saying they expect mortgage rates to fall in the next 12 months (31%).  “This significant shift in consumer expectations comes on the heels of the…