Fannie/Freddie Home Prices Pick Up Speed

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Posted To: MND NewsWire

The Federal Housing Finance Agency’s (FHFA’s) House Price Index (HPI) for September slowed to its lowest level since January , 6.3 percent and the month-over-month increase of 0.3 percent was also a recent low. The October HPI, released on Thursday, probably erased any thoughts that the rate of appreciation might be slowing. The agency said home prices rose , on a seasonally adjusted basis, in October by 0.5 percent from September, and that month’s results were revised upward to 0.5 percent as well. Prices were up for the 12 months ended in October by 6.6 percent. The average year-over-year increase for the first 10 months of 2017 is 6.41 percent. The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. The index…(read more)

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