George L. Duarte

Mortgage Loans Fremont California Horizon Financial Associates

  • Home
  • About
    • About
    • Awards
    • Privacy Policy
    • California Privacy Notice
    • Accessibility Statement
  • Reverse Mortgage Library
  • Resources
    • Real Estate Corner Radio Show
    • VA Loans
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage FAQ
    • Mortgage Glossary
    • Closing Costs
    • Living Trusts
  • Reviews
    • Video Testimonials
    • Reviews
    • Write a Review
  • Apply Now
  • Contact

FHFA: Home Prices Rise 0.30 Percent in January

March 25, 2015 by George Duarte

FHFA Home Prices Rise 0.30 Percent in JanuaryThe Federal Housing Finance Agency (FHFA) reported that home prices rose by a seasonally-adjusted rate of 0.30 percent in January, and were 5.10 percent higher as compared to home prices in January 2014.

FHFA oversees Fannie Mae and Freddie Mac and its home price report is based on sales of homes financed by mortgages owned or backed by Fannie Mae and Freddie Mac.

Month- to- Month FHFA Home Prices Mixed

Month to month home price data was mixed for January. Home prices ranged from -0.40 percent in the Middle and South Atlantic census divisions to +2.30 percent in the East South Central census division.

Month-to month readings are considered more volatile than year-over-year home price readings. Year-over-year readings for all nine U.S. census divisions were positive and ranged from a 1.70 percent increase in the Middle Atlantic division to an increase of 8.20 percent in the Pacific division. This suggests that overall, home prices are gaining, but slowly.

Commerce Department: New Home Sales Hit 7-Year Peak

In an unrelated report, the Commerce Department reported that February sales of new homes reached a seven-year peak with 539,000 sales of new homes expected on a seasonally-adjusted annual basis. This was significantly higher than the expected reading of 455,000 new home sales and was also higher than the revised reading of 500,000 new home sales in January.

Analysts said that this positive reading may indicate a robust sales for the peak spring and summer home buying season. The reading for new home sales in February was nearly 25 percent higher than for February 2014.

In spite of this good news, analysts cautioned that the new home sales numbers are often volatile, and future revisions could result in lower sales figures for new homes.

With jobs increasing and mortgage rates remaining relatively low, more homebuyers may enter the market and boost home sales. Tight mortgage lending standards remain an obstacle for would-be buyers with less than stellar credit scores.

Filed Under: Market Outlook Tagged With: Fannie Mae, FHFA, Freddie Mac

Sidebar View Lending Cert
NAMB Member Cert
Apply Now!
Mortgage Refinance Companies
NAMB
Veterans VABA Member
CMC Logo

Follow My Posts and Sign Up for My Newsletter!

Download Our App!



Horizon Financial Associates BBB Business Review

Connect with Me

Recent Awards

Mortgage Pros
2019 Best of Fremont 2017 Best of Fremont 2016 Best of Fremont
See More Awards →

Browse Articles by Category

Recent Articles

  • 3 Things That Will Absolutely Kill Your Chances for a Mortgage Approval
  • Mortgage Interest Rate Versus APR: What To Know
  • Navigating A Market With Higher Interest Rate
  • Understanding Mortgage Pre-Approvals and How to Avoid Being Declined for One
Horizon Financial Associates is a BBB Accredited Mortgage Broker in Fremont, CA
Equal Housing Opp
CRB Logo REALTOR logo

Our Location


39488 Stevenson Pl
Fremont, CA 94539

Copyright © 2023 · Powered by MySMARTblog