Fannie Mae’s Home Purchase Sentiment Index is a monthly measure of Americans’ feelings about the housing market. The survey asks respondents for their perception of the market, their job security and financial health, whether they think it’s a good time to buy or sell a house, mortgage rates, home prices, etc. According to the most recent release, Americans are feeling optimistic and it’s mostly due to favorable mortgage rates. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says falling rates have helped keep sentiment high. “Growing expectations that mortgage rates will remain flat or decline are reflected in the HPSI’s latest reading, which is now at a survey high even though other indicators of economic and housing market sentiment are flat to negative,” Duncan said. The number of participants who said they believe mortgage rates will fall further over the next year was up 11 percent from the month before and 35 percent from last year. Additionally, the share of respondents who believe home prices will rise over the next 12 months fell 1 percent. In short, Americans are feeling positive about affordability conditions and expect them to improve or stay relatively steady heading into 2020. More here.

In a perfect world, the most stressful thing about shopping for a home to buy would be choosing between multiple houses that fit well with your lifestyle and budget. But, as anyone who’s been through the buying process before knows, it doesn’t necessarily work out that way. Finding a house that fulfills your needs, fits your budget, and checks off every item on your wish list can be a challenge. How much so? Well, according to a new survey from the National Association of Home Builders, just over half of prospective home buyers during the second quarter of this year said they’d been shopping for a house for three months or more. The most common reason for a long home search was not being able to find a house in the right price range. Other common reasons buyers gave included not finding a house in the neighborhood they wanted or one with the features they desired. Whatever the case, buyers were not deterred. In fact, the vast majority said they plan to continue looking for a house in their preferred neighborhood, while others said they’d widen their search to look for homes outside their target area. Either way, setting reasonable expectations can help lessen frustration and improve your chances of having a successful search. More here.

Recent worries about a potential recession have made news but, according to Freddie Mac’s newest housing market forecast, home buyers and sellers shouldn’t be too concerned. That’s because, there are a number of positive trends that will help keep the real estate market healthy through the fall and into 2020. For one, the job market continues to show strength. And that, combined with mortgage rates hovering at three-year lows, will likely keep things moving in the right direction. Sam Khater, Freddie Mac’s chief economist, says he expects the fall market to continue to improve. “Despite fears of an economic slowdown, the U.S. labor market stands firm,” Khater said. “Specifically, jobless claims are near historic lows. This strong labor market, along with mortgage rates at three-year lows and consumer confidence holding strong, will set the stage for continued improvement in the housing market heading into fall.” In short, despite news of trade tensions and economic uncertainty, the housing market looks steady and poised for continued gains. More here.

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates for 30-year fixed-rate loans with conforming loan balances fell to their lowest level since November 2016 last week. Rates for jumbo loans, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans were relatively flat. But though rates remain favorable, it hasn’t resulted in increased demand from borrowers. In fact, refinance activity actually declined last week, falling 4 percent. Joel Kan, MBA’s vice president of economic and industry forecasting, said ongoing trade tensions between the U.S. and China has led to market volatility that may be keeping some potential borrowers on the sidelines. “Purchase applications increased 1 percent last week and were 5 percent higher than a year ago,” Kan said. “Consumers continue to act on these lower rates, but the volatility in the market is likely leading some borrowers to pause refinancing and buying decisions.” The MBA’s weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications. More here.

When you think about where Americans move once they’ve retired, you probably think of sunny cities in states like Florida or Arizona. But, according to one recent analysis, there are some less obvious spots that should be added to the list of places retirees consider when thinking about where they’d like to spend their golden years. That’s because cities like Plano, Pittsburgh, Lexington, Louisville, and Fort Wayne were included among the top 10 best places to retire – along with sun-drenched cities like St. Petersburg, Mesa, Chandler, and Las Vegas. So how did cities in Pennsylvania, Kentucky, and Indiana make a list of retirement destinations? In a word, affordability. The analysis looked at things like taxes, health insurance rates, and housing to determine where costs were low and you could stretch your retirement savings the furthest. For example, the number one city named was Henderson, Nevada, where the annual cost of living is just $20,672 and social security and pensions aren’t taxed. More here.