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Home Price Appreciation Hit the Brakes in February per FHFA

Posted To: MND NewsWire

The pace of home price appreciation slowed notably in February , at least as reflected in the Federal Housing Finance Agency's (FHFA's) House Price Index (HPI). The index, which is calculated using home sales information from mortgages sold to or guaranteed by the GSEs Fannie Mae and Freddie Mac, rose 0.3 percent from January to February and was up 4.9 percent on an annual basis. FHFA's index stood out in January when it jumped 0.6 percent from its December level and had a 5.6 percent increase compared to January 2018. Price indices for the month released by other entities had showed considerable slowing; most had monthly appreciation of 0.1-0.2 percent and annual changes in the 4 percent range. Analysts had anticipated a retreat from the January pace. Those polled by Econoday had forecast...(read more)