Posted To: MND NewsWire

Both the S&P CoreLogic Case-Shiller home price indices and the Federal Housing Finance Agency’s (FHFA’s) House Price Index (HPI) for December provide more evidence that low interest rates have reignited the fire under home price appreciation. Case-Shiller’s National Home Price Index, covering all nine U.S. census divisions, reported a 3.8 percent annual gain in December, up from 3.5 percent in the previous month. The 10-City Composite annual increase came in at 2.4 percent, up from 2.0 percent in in November, and the 20-City Composite jumped from a 2.5 percent gain the prior month to 2.9 percent. On a monthly basis the National Index rose 0.1 percent on an unadjusted basis and was 0.5 percent higher when seasonally adjusted Both of the city composites were unchanged before seasonal adjustment…(read more)

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Source: Mortgage News Daily