It appears Americans' confidence in the housing market is on the rebound. More than two-thirds polled by Fannie Mae said they think it's a good time to buy a home, while only one in four said they would rent.
Historically low mortgage rates should make buying attractive. But while borrowing costs are low, relatively few are taking the plunge. The National Association of Realtors found in August that total existing home sales remain more than 5 percent below the 5.33 million-unit level from the same period last year.
Many people may be uncertain whether they'd qualify for a mortgage—after all, even former Federal Reserve chairman Ben Bernanke said he was turned down when he tried to refinance recently—or unsure if they can afford it.