Price Gains Decelerate But Remain Over 6 Percent Annually

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Posted To: MND NewsWire

The Federal Housing Finance Agency (FHFA) is reporting another significantly high set of results for its Housing Price Index (HPI). The current values cover results for the quarter, month, and year. Based on purchase mortgages originated for Fannie Mae and Freddie Mac, FHFA puts the national increase in home prices in the first quarter of this year at 1.4 percent . FHFA Deputy Chief Economist Andrew Leventis said, “The steep, multi-year rise in U.S. home prices continued in the first quarter. Mortgage rates during the quarter remained slightly elevated relative to most of last year, but demand for homes remained very strong. With housing inventories still languishing at extremely low levels, the strong demand led to another exceptionally large quarterly price increase.” There was some deceleration…(read more)

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