Fannie Mae’s National Housing Survey polls 1,000 Americans each month about their attitudes toward homeownership, mortgage rates, the economy, personal finances, and overall consumer confidence. January’s survey finds Americans more optimistic about the economy and the housing market. Specifically, the percentage of participants who said the economy is on the right track was up 8 percentage points from the month before and the number who said it was on the wrong track dropped 6.0 percent. On average, respondents expect home prices to rise 1.0 percent over the next year. Only 16 percent of Americans expect home prices to decline, while 79 percent said they’d rise or stay the same over the next 12 months. Doug Duncan, Fannie Mae’s vice president and chief economist, said home price expectations have been rising for the past four months and consumer sentiment has rebounded to a level witnessed a year ago.

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If your interest rate is 4.75% or higher you are wasting money every day you let go by that you don't call me. Call for a no cost, no obligation mortgage check up. I'll need 5 minutes of your time over the phone to gather some information to show you how much money I can save you. Rates are at all time lows, so what are you waiting for? You can also apply online by clicking the below link. Have a great day and I look forward to the opportunity to help save you money!

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According to Gallup, Americans’ economic confidence and sense of well being both rose in January. Gallup’s Life Evaluation Index, which asks Americans to rate their current and future lives on a scale from 0 to 10, climbed to its highest level in 11 months, increasing to 50.1 from 48.4 in December. The number of respondents classified as thriving as opposed to struggling or suffering increased to 53.4 percent from 51.9 percent the month before. Americans’ improving sense of well being is tied to gains in economic confidence. According to Gallup’s Economic Confidence Index, which has been rising since August of last year, the country’s confidence in the economy is at its highest level since May 2011, though it isn’t as high as it was a year ago.

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The National Association of Realtors Housing Affordability Index reached a record high in 2011. The index, which began in 1970, measures the relationship between median home price, median family income, and average mortgage interest rate. The index defines 100 as the point where a median-income household has exactly enough income to qualify to purchase a median-priced home. In 2011, the index reached 184.5. Lawrence Yun, NAR’s chief economist, said the Midwest and South have the greatest concentration of areas where home buyers have the strongest purchasing power. According to Yun, the West Coast and Northeastern Seaboard have higher-priced homes which accounts for lower affordability ratings.

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B of A Can't Process All Refi Applications

Bank of America Corp. is limiting the number of refinance applications it accepts over the phone, telling borrowers who do not have an existing relationship with the bank that they may have to wait 60 to 90 days before their loan application can be processed, a B of A spokesman said Wednesday.

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