U.S. consumer sentiment about buying a home ticked up in August as expectations ...
- U.S. consumer sentiment about buying a home ticked up in August as expectations about falling mortgage rates offset reduced optimism about home price appreciation and the timing to buy and sell a home, Fannie Mae said on Monday.
The largest U.S. home finance agency said its index on home purchase sentiment moved up 0.1 percentage point to 93.8 last month, the highest level since this measure began. “Unfortunately, much of the lower interest rate environment can be attributed to global economic uncertainties, which appear to have dampened consumer sentiment regarding the direction of the economy,” Fannie Mae chief economist Doug Duncan said in a statement.
Last Friday, the Labor Department said nonfarm payrolls grew by 130,000 in August, fewer than the 148,000 forecast among analysts polled by Reuters. Job growth has slowed since mid-2018.
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