Mixed Results on YoY Home Price Appreciation

The S&P CoreLogic Case-Shiller Indices posted an annual decline in home prices for the second straight month in May while the Housing Price Index provided by the Federal Housing Finance Agency (FHFA) continues to show annual appreciation . Case-Shiller’s National Home Price Index, which covers all nine U.S. census divisions, was down 0.5 percent compared to a loss of 0.1 percent in April. The 1.0 decline in the 10-City Composite was a slight improvement from -1.1 percent the previous month. The 20-City Composite was unchanged from April’s 1.7 percent year-over-year loss. Month-over-month, however, prices were ascendent, Before seasonal adjustment, the National Index posted a 1.2 percent month-over-month increase and was up 0.7 percent after seasonal adjustment. in May. Both the 10-City and 20-City Composites rose 1.5 percent on an unadjusted basis while the 10-City Composite gained 1.1 percent and 20-City Composite 1.0 percent after adjustment. Chicago, Cleveland, and New York reported the highest year-over-year gains among the 20 cities in May. Chicago moved up one to the top spot with a 4.6 percent year-over-year price increase, while Cleveland was number two at 3.9 percent. New York debuted in the top three with a 3.5 percent increase. There was an even split of 10 cities reporting lower prices and those reporting higher prices in the year ending May 2023 versus the year ending April 2023.

July 25, 2023 Download our Mobile App: Download our Mobile App: Housing News Mixed Results on YoY Home Price Appreciation The S&P CoreLogic Case-Shiller Indices posted an annual decline in home prices for the second straight month in May while the Housing Price Index provided by the Federal Housing Finance Agency (FHFA) continues to show annual appreciation . Cas... (read more) Mortgage Rate Watch Mortgage Rates Back Over 7%, at 2-Week Highs Ahead of Fed Mortgage rates moved moderately higher for the average lender at some point over the past 2 days. Some lenders bumped rates yesterday afternoon and thus didn't need to make as big of adjustment today. Other lenders who held steady yesterd... (read more) MBS Commentary Same Waiting, Slightly Less Comfort After the last CPI report sent rates back down to the prevailing summertime range, we figured we'd be waiting until tomorrow's Fed day for the next big shoe to drop. While that's generally been the case, rates haven't managed to stay perfectly ... (read more) Rob Chrisman Borrower-Focused, MI, Retention. MERS Audit, Delinquency Mgt. Products; Events and Training “I am part of the 4 percent who want to ban the teaching of math. We are a quarter of the country, and we will not be ignored! And that number is growing; soon we will be a fifth of the country!” While we’re being quantitative… Everyone knows that th... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.04% +0.05% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.04% +0.05 0.00 15 Yr. Fixed 6.40% +0.03 0.00 30 Yr. FHA 6.64% +0.05 0.00 30 Yr. Jumbo 7.02% +0.03 0.00 5/1 ARM 6.96% +0.01 0.00 30 Yr. VA 6.64% +0.02 0.00 Updates Daily - Last Update: 7/25 15 Yr. Fixed Rate 6.40% +0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% -0.18 0.00 15 Yr. Fixed 6.06% -0.24 0.00 Updates Weekly - Last Update: 7/20 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.87% +0.29 0.66 15 Yr. Fixed 6.36% -0.06 0.72 30 Yr. Jumbo 6.89% -0.15 0.64 Updates Weekly - Last Update: 7/19 MBS / Treasuries UMBS 30YR 5.5 99.31 -0.08 Price / Yield Change MBS UMBS 5.5 99.31 -0.08 UMBS 6.0 100.66 -0.08 GNMA 5.5 99.42 -0.06 GNMA 6.0 100.48 -0.05 Pricing as of: 7/25 5:31PM EST 10 Year US Treasury 3.8900 +0.0120 Price / Yield Change US Treasury 2 YR Treasury 4.879 -0.047 5 YR Treasury 4.171 +0.014 7 YR Treasury 4.039 +0.018 10 YR Treasury 3.890 +0.012 30 YR Treasury 3.933 +0.006 Pricing as of: 7/25 5:31PM EST Latest Video Home prices in May rose for the 4th straight month with regional disparitie... NBER Chair John Lipsky: There's good reason to believe inflation will moder... Banc of California reportedly in talks to buy PacWest CNBC Fed Survey: 40% of respondents say stocks are somewhat overpriced rela... Around the Web Marketwatch Everyone thinks the Fed's rate hike this week will be the final one — except the Fed CNBC Here's what to expect from the Federal Reserve meeting Wednesday Eye on Housing Interest for New Homes Strengthens Wall Street Journal Home Prices Fell Year-Over-Year in May CNBC A 10-year rally in U.S. home prices could be coming to an end, says Yale's Robert Shiller Eye on Housing Housing Demand Slows on Higher Rates and Prices CNBC Treasury yields climb as investors weigh interest rate decisions ahead Calculated Risk Blog Update on Four High Frequency Indicators Calculated Risk Blog Housing July 24th Weekly Update: Inventory increased 1.9% Week-over-week; Down 8.8% Year-over-year CNBC Treasury yields little changed as investors prepare for Fed meeting Calculated Risk Blog Case-Shiller: National House Price Index Decreased 0.5% year-over-year in May Calculated Risk Blog Comments on May Case-Shiller and FHFA House Prices CNBC European markets set for mixed open ahead of busy earnings week, ECB meeting

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