Although last week's economic calendar was cut short by the Thanksgiving holiday, several housing-related reports were released. The FHFA reported on third quarter results for its Housing Market Index and the Commerce Department reported on new home sales for October. Freddie Mac released its weekly report on mortgage rates and data on new weekly jobless claims was also released. FHFA, Commerce Department report Gains for Home Prices, New Home Sales Home prices for mortgages associated with mortgages owned or backed by Fannie Mae and Freddie Mac increased 1.30 percent during the quarter ended … [Read more...]
Case-Shiller: August Home Prices Accelerate
According to the Case-Shiller 20-City Home Price Index, U.S. home prices increased by 0.40 percent in August, which boosted year-over-year home price growth to 5.10 percent. Denver, Colorado continued to lead in home price gains with a monthly increase of 0.90 percent and a year-over-year gain of 10.70 percent. San Francisco, California also posted a year-over-year gain of 10.70 percent, but posted a month-to-month loss of -0.10 percent. Portland, Oregon posted a year-over-year gain of 9.40 percent with a month-to-month gain of 1.10 percent. Cities with the slowest growing home prices … [Read more...]
What’s Ahead For Mortgage Rates This Week – August 31, 2015
Last week's economic news included several reports related to housing. The Case-Shiller 20-City Home Price Index for June rose to 4.50 percent as compared to May's reading of 4.40 percent. Denver, Colorado was the only city to post double-digit year-over-year growth. FHFA also released its House Price Index for June. Home prices for properties associated with mortgages owned or backed by Fannie Mae and Freddie Mac rose at a year-over-year rate of 5.60 percent in June as compared to May's reading of 5.70 percent. New Home Sales, Pending Home Sales Rise in July Commerce Department data revealed … [Read more...]
Case-Shiller: Home Prices Continue to Outpace Inflation
Denver, Colorado continues to woo homebuyers as home prices rose by 10.20 percent as of June according to the Case-Shiller 20-City Home Price Index. The Mile-High City was the only city included in the index that posted double-digit year-over-year growth in June. San Francisco, California posted a 9.50 percent year-over-year gain in home prices and Dallas, Texas rounds out the top three cities posting highest year-over-year home price growth with a reading of 8.20 percent. Denver's home prices were impacted by the city's rapidly expanding economy and demand for homes coupled with a slim supply … [Read more...]
FHFA: Home Prices Rise 0.30 Percent in January
The Federal Housing Finance Agency (FHFA) reported that home prices rose by a seasonally-adjusted rate of 0.30 percent in January, and were 5.10 percent higher as compared to home prices in January 2014. FHFA oversees Fannie Mae and Freddie Mac and its home price report is based on sales of homes financed by mortgages owned or backed by Fannie Mae and Freddie Mac. Month- to- Month FHFA Home Prices Mixed Month to month home price data was mixed for January. Home prices ranged from -0.40 percent in the Middle and South Atlantic census divisions to +2.30 percent in the East South Central census … [Read more...]