U.S. Home Prices Rose More Than Expected in October U.S. home prices rose more than economists estimated in October as rising employment and falling interest rates boosted buyer demand. Prices climbed 0.6 percent on a seasonally adjusted basis from September, the Federal Housing Finance Agency said today in a report from Washington. The average of 21 estimates was for a 0.3 percent increase, according to data compiled by Bloomberg. Prices rose 4.5 percent from a year earlier, a streak that dates to June 2012, according to the report. The pace of increases slowed last year after higher prices and a spike in interest rates made housing less affordable. “The housing recovery has been a bit weaker than many were hoping for this year,” Paul Ashworth, chief U.S. economist with Capital Economics Ltd., wrote in a note yesterday from Toronto. “With mortgage rates starting from very low levels and credit conditions easing, albeit very gradually, the housing recovery should pick up a little more pace in 2015.” Capital Economics expected prices to rise 0.5 percent in October. Mortgage rates returned this month to their lowest level since May 2013, when borrowing costs began soaring after the Federal Reserve announced plans to slow purchasing of Treasury Bonds and mortgage-backed securities. Regional [...] ilinnews/u-s-home-prices-rose-more-than-expected-in-october-616/
Posted on: Fri, 26 Dec 2014 08:01:21 +0000
Trending Topics
Recently Viewed Topics
© 2015