Americans' confidence in the economy improves
Posted on Monday, March 12, 2012 at 4:37:27 PM
According to Fanni Mae's February 2012 National Housing Survey, Americans' concerns about key economic housing issues are beginning to wane. In fact, consumer confidence levels are increasing on all fronts, including personal finances, housing and employment.
Since November 2011, Americans' confidence in the overall direction of the economy has reached 35 percent or up 19 percentage points. The percentage of the population that viewed the economy as on the wrong track reduced by 18 percentage points to 57 percent.
As consumer confidence grows, the housing market becomes increasingly steady. As a result, builders, real estate professionals and lenders grow bolder and the entire system moves toward a positive place. Residential financing becomes easier to attain for those with decent credit scores who demonstrate reliability, as well as offer a substantial down payment on a home.
The market may be especially opportune for consumers, as the current 30-year fixed-rate mortgage interest rates remain historically low and affordable. Consider researching home financing options to determine the housing situation is best for you.