Posted To: MND NewsWire

The pace of home price increases picked up in November, increasing by 3.7 percent on a year-over-year basis, up from 3.5 percent in October . CoreLogic said its Home Price Index (HPI) posted a monthly gain of 0.5 percent, a substantial uptick from the 0.2 percent gain the prior month. The index, which covers both market and distressed sales, hit a recent peak of 6.62 percent in April 2018 before beginning a steady slowdown. CoreLogic’s chief economist Frank Nothaft said, “The latest U.S. index shows that the slowdown in home prices we saw in early 2019 ended by late summer. Growth in the U.S. index quickened in November and posted the largest 12-month gain since February. The decline in mortgage rates, down more than one percentage point for fixed-rate loans from November 2018, has supported…(read more)

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Source: Mortgage News Daily