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
@CFPB today finalized a rule to promote more effective privacy disclosures from financial institutions to their customers. Watch News Now
42 minutes ago
Four consumer rights you didn't have 40 years ago via @CreditExperts http://t.co/RwSocTG1q4
1 hours ago
Cascade Community #CreditUnion has granted 30 educators almost $6,000 in Chalkboard grants for the 2014-15 school year.
1 hours ago
#NewsNow Money: CUNA's Schenk talks interest rates, inflation http://t.co/JbQlDrXzM3
1 hours ago
Eric Richard, CUNA's general counsel, details legal/regulatory trends affecting CUs at CUNA Attorneys Conf. today. http://t.co/n7ZATxT4eM
2 hours ago