- Prior was +7.2%
- Prices m/m +0.3% vs +0.4% expected
National house price data from the FHFA:
- Prices up 5.7% y/y vs 6.3% prior
- Prices m/m 0.0% vs +0.2% prior
The creeping weakness is more-evident in the national numbers, rather than in the 20-largest cities. Long-dated yields are coming down but I doubt there will be a surge housing demand if 30-year fixed rates fall to 6% from 6.8%.
This article was written by Adam Button at www.forexlive.com.
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