Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Home Prices Rose 0.9% In June
WASHINGTON (8/28/13)--U.S. home prices rose in June, although at a slower pace than in May, an indication that the rate of improvement in the housing market could be slowing (MarketWatch, The New York Times and Bloomberg.com Aug. 27).
 
The S&P/Case Shiller composite index of home prices in 20 metropolitan areas increased 0.9% on a seasonally adjusted basis. Prices gained 2.2% on a non-adjusted basis. 
 
On an annual basis, home prices in all 20 cities rose, topped by a 24.9% spike in Las Vegas, followed by a 24.5% increase in San Francisco.
 
However, only six cities saw prices increase in June at a faster pace than in May--when 10 cities saw prices rise, the Times said.
 
Escalating property values are bolstering household wealth, which helps fortify the consumer spending that comprises 70% of the U.S. economy, Bloomberg said.
 
However, a leap in mortgage rates suggests home sales and refinancing could be restrained--and that would make it harder for consumers to tap into home equity, Bloomberg added.
RSS print
News Now LiveWire
.@SCTelco_FCU among best places to work in S.C. via @TheCCUL http://t.co/PJnjOArfm8
1 hours ago
#IceBucketChallenge in D.C. today: @HampelBill with help from some @CUNA staff http://t.co/3iOqE2KSjd
1 hours ago
P2P mobile payments draw millennials' interest via @BloombergNews http://t.co/uoO2anjCsV
3 hours ago
#creditunion CEO confidence continues upward trend #NewsNow http://t.co/gi1IamDlA8
4 hours ago
.@NJCUL to hold info session for #cugreenloans in Sept. See #NewsNow http://t.co/5h65CplhS9
4 hours ago