San Francisco, California where home prices rose 10.30 percent year over year in March, and Denver, Colorado with an even 10 percent gain in year-over-year home prices led the Case-Shiller 20-City Composite Index for March. Rounding out the top-five cities for year-over-year home price growth were Dallas Texas at 9.30 percent, Miami, Florida at 8.70 percent and Tampa, Florida with a year-over-year average gain in home prices at 8.10 percent. San Francisco's reading for March was the first double-digit increase in home prices since last July. The five lowest year-over-year price gains occurred … [Read more...]
What’s Ahead For Mortgage Rates This Week – April 27, 2015
Last week's housing related reports included the FHFA Home Price Index, the National Association of Realtors® Existing Home Sales report and The Commerce Department's report on new home sales. Results were mixed, but suggest that housing markets are strengthening. FHFA Home Prices Up in February, Existing Home Sales Highest in 18 Months The Federal Housing Finance Agency reported that home prices associated with mortgages owned or backed by Fannie Mae and Freddie Mac rose from a 5.10 percent increase in January to a seasonally adjusted annual rate of 5.40 percent in February. The National … [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...]
What’s Ahead For Mortgage Rates This Week – March 2, 2015
Last week provided several housing-related reports including New Home Sales, Pending Home Sales and Existing Home Sales reports. Case-Shiller and FHFA also released data on home prices. The details: Sales of Pre-Owned Homes Hit Nine-Month Low According to the National Association of Realtors® (NAR), Sales of pre-owned homes dropped to a seasonally-adjusted annual reading 4.82 million sales in January as compared to an estimated reading of 4.95 million sales and December's reading of 5.07 million existing homes sold. This was a month-to-month decline of 4.90 percent, and represented the … [Read more...]
FHFA House Price Index Rises for 14th Consecutive Quarter
According to the Federal Housing Finance Agency (FHFA), U.S. home prices rose by 1.40 percent for the fourth quarter of 2014 and were up by 0.80 percent month-to-month from November. The seasonally adjusted FHFA House Price Index measures purchase transactions for homes connected with mortgages owned by Fannie Mae and Freddie Mac. FHFA also reported that home prices rose 4.9 percent year-over –year from the fourth quarter of 2013 to the fourth quarter of 2014. FHFA Chief Economist Andrew Leventis described the report for the last quarter of 2014 as "relatively strong" and also cited low … [Read more...]