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Home-price growth slowing, Case-Shiller says
By Ruth Mantell, MarketWatch
Source: Home-price growth slowing, Case-Shiller says
WASHINGTON (MarketWatch) — U.S. home prices in July rose at the smallest monthly pace since March, as most cities tracked by a gauge from S&P/Case-Shiller saw slower growth, according to data released Tuesday.

Home prices rose 1.8% in July, down from 2.2% in June, according to the Case-Shiller report. After seasonal adjustments, prices were up 0.6% in July, the lowest gain since September.
It looks like higher mortgage rates are hitting the housing market, said David Blitzer, index committee chairman at S&P Dow Jones Indices. Among the 20 cities tracked by S&P/Case-Shiller, 15 saw slower monthly price growth in July. Elsewhere Tuesday, the Federal Housing Finance Agency, which regulates mortgage buyers Fannie Mae and Freddie Mac, reported that home prices rose a seasonally adjusted 1% in July, and were up 8.8% from the year-earlier period.
Mortgage rates started rising in early May on speculation that the Federal Reserve could start cutting its large-scale asset purchases that have helped keep home loans relatively cheap. The Fed announced last week that it is not going to start tapering these purchases yet, but that news is likely to have only a temporary impact on housing, ... more

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