Home Prices Continue Defying Gravity and Expectations

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Posted To: MND NewsWire

Price increases did not slow in the third quarter as expected the Federal Housing Finance Agency (FHFA) said today. The agencies purchase-only seasonally adjusted House Price Index (HPI) for the quarter shows that prices rose for the 17 th consecutive quarter and posted the largest month-over-month gain since at least that in March to April. The combined report for September and for the third quarter is based on home sales price information taken from mortgages sold to or guaranteed by the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The monthly index rose 0.8 percent from August and the quarterly measure was 5.7 percent higher than in the third quarter of 2014. Year-over-year the increase for the entire U.S. was 6.1 percent. The 8 percent monthly gain crushed analysts...(read more)

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Source: http://www.mortgagenewsdaily.com/11252015_fhfa_hpi.asp

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