Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Home prices increase for second straight month FHFA
WASHINGTON (7/22/11)—Home prices nationwide increased by an average of 0.4% in May, the most recent month for which data is available, representing the second straight month of progress for previously plummeting home values. The Federal Housing Finance Agency in a release noted that home prices increased by .2% during April. Homes in the mountain region of the U.S. showed the greatest growth, increasing by 2% in May. Other regions showed more modest gains, while prices in the Mid-Atlantic and West South Central regions continued to dip. The relatively good news is tempered by FHFA statistics that show a 6.3% drop in home prices since May 2010. Nationwide, home prices have fallen by an average of 19.6% since April 2007. The FHFA uses the purchase price of homes with Fannie Mae- or Freddie Mac-backed mortgages to calculate its monthly index. Thirty- and 15-year mortgage rates have also increased, with Freddie Mac reporting averages of 4.52% and 3.65%, respectively, for the week ended July 21. Both of these rates increased by 0.7% when compared against the previous weekly average. Five- and one-year adjustable mortgage rates remained relatively steady, averaging 3.27% and 2.97%, respectively. Freddie Mac chief economist Frank Nothaft said that the steady mortgage results were due to mixed economic reports. Nothaft also noted that single-family housing starts were up 9.4% in June, and existing home sales dropped by 0.8%. For the FHFA and Freddie Mac releases, use the resource links.
Other Resources

RSS print
News Now LiveWire
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
18 minutes ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
31 minutes ago
.@MICreditUnions is recruiting member #creditunions to participate in a campaign to help state residents thrive in retirement.
40 minutes ago
#NewsNow: How @MyCUgov makes financial education resources available (Pt1 in a 2-Pt series) http://t.co/XzvD5sj8Am
43 minutes ago
Consumer spending, income slip in July #Market #NewsNow http://t.co/GHFviIePLS
2 hours ago