On Tuesday, the Federal Housing Finance Agency (FHFA), published its third quarter 2018 House Price Index (HPI) report, which includes estimates for the increase in the average U.S. home value over the last four quarters. The HPI reveals an increase in U.S. house prices by 1.3 percent in the third quarter of 2018.
“Home prices continued to rise in the third quarter but their upward pace is slowing somewhat," said Dr. William Doerner, Supervisory Economist at the FHFA.“Rising mortgage rates have cooled down housing markets—several regions and over two-thirds of states are showing slower annual gains."
Watch this video to see Doerner share his insights into the housing market, mortgage rates, and other price indexes, in light of the latest report.
Read the full report here.