Has the Home Price Slide Ended?

Two major home price indexes had very different conclusions about the growth of annual home prices in April, but each showed a significant month-over-month uptick. The S&P CoreLogic Case-Shiller U.S. National Home Price Index fell off its March pace while the Federal Housing Finance Agency’s (FHFA’s) Home Price Index (HPI) moved higher. Case-Shiller’s non-seasonally adjusted National Index April covering all nine U.S. census divisions, moved from 0.7 percent annual growth in March to a 0.2 percent decline in April. Both composite indexes increased on the rate of decline posted the previous month. The 10-City, which was down 0.7 percent on an annual basis the prior month lost 1.2 percent in April while the 20-City posted a 1.7 percent year-over-year loss, down from 1.1 percent in the previous month. Miami reported the highest 12-month gains among the 20 cities in April at 5.2 percent. Chicago debuted in the top three in second place with a 4.1 percent gain and Atlanta pushed Charlotte out of third place, increasing by 3.5 percent. Annual price changes were lower than the prior month in 17 of the 20 cities. Only Boston, San Francisco and Cleveland managed to increase their appreciation rate. Monthly changes were all positive. Before seasonal adjustment, the U.S. National Index posted a 1.3 percent month-over-month increase in April while the two composites were 1.7 percent higher. After seasonal adjustment, the National Index posted a month-over-month increase of 0.5 percent, while the 10-City and 20-City Composites gained 1.0 percent and 0.9 percent, respectively.

June 25, 2024 Download our Mobile App: Download our Mobile App: Housing News Has the Home Price Slide Ended? Two major home price indexes had very different conclusions about the growth of annual home prices in April, but each showed a significant month-over-month uptick. The S&P CoreLogic Case-Shiller U.S. National Home Price Index fell off its... (read more) MBS Commentary Decent 2yr Auction, But No Major Inspiration For Bonds Decent 2yr Auction, But No Major Inspiration For Bonds We've increasingly revisited the concept of the "inside day" recently and with 2 days down, we could actually shift gears and to an "inside week." ... (read more) Mortgage Rate Watch The Miraculously Sideways Streak Continues Mortgage rates have been flatter than the earth according to the flat earth society. Much like the actual earth in many areas in the middle of the country--and especially Florida--things can be flat for as far as the eye can see, but the farthe... (read more) Rob Chrisman HELOC, Live Pricing Data, VOIE Tools; LO Survey, Webinars and Training Everyone’s above average, right? If you are a lender and making money, you’re in the majority. It’s not that you’re not special, it’s just that with cuts and servicing income, and unprofitable companies going away, most companies are in the black: In... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.03% +0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.03% +0.01 0.00 15 Yr. Fixed 6.44% +0.01 0.00 30 Yr. FHA 6.48% -0.02 0.00 30 Yr. Jumbo 7.25% 0.00 0.00 7/6 SOFR ARM 7.02% -0.01 0.00 30 Yr. VA 6.49% -0.03 0.00 Updates Daily - Last Update: 6/25 15 Yr. Fixed Rate 6.44% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.87% -0.08 0.00 15 Yr. Fixed 6.13% -0.04 0.00 Updates Weekly - Last Update: 6/20 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.02% -0.05 0.65 15 Yr. Fixed 6.60% -0.15 0.55 30 Yr. Jumbo 7.18% -0.03 0.54 Updates Weekly - Last Update: 6/12 MBS / Treasuries UMBS 30YR 5.5 99.08 -0.13 Price / Yield Change MBS UMBS 5.5 99.08 -0.14 UMBS 6.0 100.60 -0.13 GNMA 5.5 99.55 -0.10 GNMA 6.0 100.62 -0.08 Pricing as of: 6/25 5:31PM EST 10 Year US Treasury 4.2413 +0.0087 Price / Yield Change US Treasury 2 YR Treasury 4.738 +0.015 5 YR Treasury 4.270 +0.015 7 YR Treasury 4.248 +0.013 10 YR Treasury 4.241 +0.009 30 YR Treasury 4.373 +0.010 Pricing as of: 6/25 5:31PM EST Latest Video The Fed should consider cutting in July, says Allianz's Mohamed El-Erian Home prices set another record high in April Deputy Treasury Secretary on new affordable housing plan Consumer confidence slightly weakens in June Around the Web CNBC Here's how bad housing affordability is now CNBC The typical new home in the U.S. is shrinking. Here's what that means for buyers CNBC U.S. auto sales are expected to slow during the second half of 2024 Marketwatch Feds Goolsbee lays out dovish case for potential rate cuts and flags a couple of warning signs on economy forexlive Canada May CPI 2.9% versus 2.6% expected CNBC Yellen announces $100 million affordable housing fund as shelter costs weigh on Biden Calculated Risk Blog A few comments on the Seasonal Pattern for House Prices Reuters Fed's Daly: inflation not the only risk, policy must 'exhibit care' Philly Fed Philly Fed Non Manufacturing Outlook Survey Calculated Risk Blog Case-Shiller: National House Price Index Up 6.3% year-over-year in April CNBC Fed Governor Bowman says she's still open to raising rates if inflation doesn't improve CNBC Oil prices fall as rally takes a pause while traders watch Middle East tensions, summer demand CNBC Yellen announces $100 million affordable housing fund as shelter costs weigh on Biden

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