Latest findings from Fannie Mae’s Home Purchase Sentiment Index showed a slight increase in consumer optimism with regards to homebuying conditions. Fannie Mae reported that 32% of consumers surveyed in August said it was an opportune time to buy a home, reflecting an increase of 7 percentage points from July, and the first increase in four months. Mark Palim, Fannie Mae Vice President and Deputy Chief Economist notes that the upward momentum may reflect, at least in part, “the favorable mortgage rate environment and growing expectations that home price growth will begin to moderate over the next twelve months.” In addition to Buying Conditions, two other components of the six-component index, reflected increases this month – Mortgage Rate Outlook, and Change in Household Income. The increases were offset by decreases in the remaining three components – Home Price Outlook, Job Loss Concern, and Selling Conditions. The full index was largely unchanged in August, but down 1.8% year over year.