Lower Interest Rates are Helping Home Prices, Sales

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Posted To: MND NewsWire

The shrinking rate of home price increases that has headlined the price data from most sources for months may have ended, at least according to CoreLogic Home Price Index (HPI), and the company is seeing more aggressive appreciation in the future . The HPI for May increased by 3.6 percent on an annual basis, up from a 3.5 percent gain in April. The month-over-month change was 0.9 percent. Frank Nothaft, CoreLogic’s chief economists said, ” Interest rates on fixed-rate mortgages fell by nearly one percentage point between November 2018 and this May. This has been a shot-in-the-arm for home sales . Sales gained momentum in May and annual home-price growth accelerated for the first time since March 2018.” The states with the highest increases were Idaho, up 10.7 percent and Utah with a 7.8 percent…(read more)

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