Consumer Attitudes Improve on Housing Weaken on Economy

first_imgConsumer Attitudes Improve on Housing, Weaken on Economy Share in Daily Dose, Data, Featured, Headlines, News Confidence Credit Availability Fannie Mae Home Prices 2014-03-10 Tory Barringercenter_img March 10, 2014 476 Views After starting the year on a low note, consumer attitudes toward housing brightened overall in February, according to Fannie Mae.Asked about home price trends over the next year, 50 percent of respondents in Fannie Mae’s February National Housing Survey said they expect improvements, a recovery from a slide to 43 percent in January. A slightly larger number of consumers anticipate price declines—7 percent, up from 6 percent—while the share of those forecasting no significant movement was down to 38 percent.Having dropped 1.2 percentage points to start the year, the average home price change expectation rebounded just as sharply to 3.2 percent, matching the December survey.That renewed confidence in home prices spurred a boost in those saying now is a good time to buy a home; that number was up 3 percentage points from January to 68 percent. At the same time, though, the share of respondents saying they think it would be easy for them to get a mortgage right now retreated from January’s all-time high of 52 percent, falling back to 45 percent.Doug Duncan, SVP and chief economist at Fannie Mae, said the up-and-down nature of the last few surveys fits with the “noisy economic and housing data published over the past few months.”“[W]e’ve seen a corresponding increase in volatility in our survey results, particularly for home price expectations and perceptions about the ease of getting a mortgage,” Duncan said. “Despite the volatile month-to-month changes, we believe that the housing recovery is continuing, but is not yet robust.”Gauging consumer attitudes about the economy, Fannie Mae found Americans were considerably more downbeat than they have been recently. Thirty-five percent of respondents said they believe the economy is on the right track—down 4 percentage points—while 57 percent say it’s on the wrong track, a small bounce after four straight months of declines.Twenty-four percent of consumers said their household income is significantly higher than it was 12 months ago, an increase of 2 percentage points. Meanwhile, 36 percent said their expenses have grown substantially, an increase of 4 percentage points.Noting a 6 percentage point jump over the last two months in the share of consumers citing higher household expenses, Duncan speculated that weather may have played a large role in any declines in economic optimism.“This response would be consistent with higher home heating costs,” he explained.Nevertheless, at least a few consumers seem to think these higher costs will stick: The number of respondents who expect their personal financial situation to improve in the next year fell slightly to 43 percent, while those expecting things to get worse ticked up to 15 percent.last_img read more

The Cardinals made some minor roster moves Tuesday

first_imgThe Cardinals made some minor roster moves Tuesday.The team announced they have signed fullback Korey Hall to their 53-man roster. He will take the spot of tackle Pat McQuistan, who was released earlier in the day.Hall, a six-year veteran out of Boise State, spent last season with the New Orleans Saints and played in 13 games. Before his one-season stint in New Orleans, Hall played in 48 games and made 26 starts in four seasons with the Green Bay Packers. With Green Bay, Hall had 21 receptions for 137 yards and one touchdown while also recording 52 special teams tackles. Cardinals expect improving Murphy to contribute right away 0 Comments   Share   Top Stories Nevada officials reach out to D-backs on potential relocationcenter_img D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ He was released by the Saints on Sept. 8. The Cardinals also welcomed back linebacker Zach Nash to their practice squad. Nash signed as undrafted free agent from Sacramento State — where he set a school record with 29.5 sacks — back in April, but was released by the team on Aug. 24. To make room for Nash, UA alum Ricky Elmore was issued his release. What an MLB source said about the D-backs’ trade haul for Greinkelast_img read more