Interest rates up or down? Up, say consumers

Interest ratesBy Jann Swanson | Mortgage News Daily

Responses to Fannie Mae’s National Housing Survey for June showed more marked changes in several categories than has been the case in recent months when data has been relatively flat.  Most of the changes indicted slowly increasing confidence in the housing market and in the economy in general, however the greatest change was in consumer expectations about interest rates.

In January 55 percent of respondents expected interest rates to rise over the ensuing 12 months, but as rates softened those responses drifted back down and in May only 49 percent expected higher rates.  In the latest survey that response shot up 6 points, returning to 55 percent.

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