More positive signals from housing -- home values are still on the rise.
According to the Federal Housing Finance Agency, after posting its first quarterly increase since 2007 this past September, the Home Price Index rose by another 0.6 percent in October.
Prices are up in 4 of the last six months.
But before we take the stats to the proverbial bank, it's important that we recognize the Home Price Index for its shortcomings.
- HPI only accounts for homes with mortgages backed by Fannie Mae or Freddie Mac
- HPI only accounts for re-sold homes -- newly-built homes are excluded
- HPI aggregates national data whereas real estate markets are local phenomena
On a broad scale, the Home Price Index can be useful, but it doesn't specifically apply to any specific U.S. market. For that,....
Read the COMPLETE BLOG POST HERE:
Home Prices On The Rise, Says The October Home Price Index Report
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
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