Americans’ Confidence in the Economy Hits Highest Level Since the Recession

Optimism about Economy

U.S. citizens are currently more optimistic about the country’s economy — and their ability to obtain a mortgage — than at any point in at least the last five years, sentiments that should help propel the housing market as the year progresses.

Fannie Mae’s February 2015 National Housing Survey found that 47 percent of respondents believe the economy is moving in the right direction, up 3 percent from the previous month and the highest in the survey’s five-year history. The number of Americans who think the economy is on the wrong track dropped to 45 percent, an all-time survey low.

“Continuing improvements in consumer attitudes in this month’s National Housing Survey lend support to our expectation that 2015 will be a year of the economy dragging housing upward,” Doug Duncan, senior vice president and chief economist at Fannie Mae, said in a statement accompanying the poll results. “The share of consumers who think the economy is on the right track rose to a record high since the inception of the survey nearly five years ago and for the first time exceeded the share who believe it’s on the wrong track.”

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