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Mortgage Update: Spring 2014

– By Kevin McGoff, EverBank


Americans’ outlook toward the housing market continued to improve in April, perhaps foreshadowing an increase in housing activity in the coming months, according to results from Fannie Mae’s April 2014 National Housing Survey.

The share of respondents who believe now is a good time to sell a home increased for the third consecutive month to an all-time high of 42%, an encouraging sign since many potential homebuyers will need to sell a home before entering the purchase market. In addition, the share of respondents who say now is a good time to buy a home remained steady at 69% following a gradual climb since the beginning of the year.

“Our April survey results suggest that consumer confidence is moving in a positive direction,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “Consumer attitudes about the current environment have improved to the most favorable level we’ve seen in the survey’s four-year history… These results are in line with our expectations for increased housing activity and gradual strengthening of the housing market going into the spring and summer selling season.”

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