Home Price Appreciation Ran Just Above Expectations in November

Both S&P Case-Shiller and the FHFA released national home price indices this morning. In both cases, November's prices were slightly higher than expected. For the Case Shiller data, this meant that prices declined less than expected. Unlike FHFA prices, Case Shiller is NOT seasonally adjusted--something that is immediately apparent when viewing a month-to-month chart. November is frequently near the low point of any given year for price appreciation. This month's 0.1% decline is an improvement from October's 0.2% decline or the 0.3% drop from last November. Regionally, Boston and New York were top performers in November, but only NY and Chicago were over 6% year over year. As seen in the table above and the chart below, prices are easily in positive territory in year-over-year terms. The same is true for FHFA, which is seeing almost the exact same change as Case Shiller. In addition, both indices have been fairly flat in the low 4% range recently.

January 28, 2025 Download our Mobile App: Download our Mobile App: Housing News Home Price Appreciation Ran Just Above Expectations in November Both S&P Case-Shiller and the FHFA released national home price indices this morning. In both cases, November's prices were slightly higher than expected. For the Case Shiller data, this meant that prices declined less than expected. Unlik... (read more) MBS Commentary Not Expecting Fireworks From The Fed Not Expecting Fireworks From The Fed Bonds had a mixed reaction to this morning's Durable Goods data with stronger internals offsetting a weaker headline. Sellers were in control for most of the AM hours, but... (read more) Mortgage Rate Watch Mortgage Rates Little Changed Ahead of Fed Meeting The average mortgage lender remained right in line with yesterday's levels despite a bit of weakness in the bond market. Lenders who improved their rates yesterday afternoon were slightly higher. Others were slightly lower. This is... (read more) Rob Chrisman POS, Servicing, Fair Lending Products; Program Changes; Opinion on Mortgage Bond Prices “Last year I joined a support group for procrastinators. We haven't met yet.” Lenders and vendors are certainly meeting here in Austin. What’s going on out there? There’s endurance. Congratulations to my son Robbie as today is his 1,000th podcast, th... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.07% +0.00% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.07% 0.00 0.00 15 Yr. Fixed 6.49% +0.01 0.00 30 Yr. FHA 6.47% -0.03 0.00 30 Yr. Jumbo 7.35% 0.00 0.00 7/6 SOFR ARM 6.94% +0.02 0.00 30 Yr. VA 6.49% -0.02 0.00 Updates Daily - Last Update: 1/28 15 Yr. Fixed Rate 6.49% +0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.96% -0.08 0.00 15 Yr. Fixed 6.16% -0.11 0.00 Updates Weekly - Last Update: 1/23 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 7.02% -0.07 0.62 15 Yr. Fixed 6.45% +0.02 0.64 30 Yr. Jumbo 6.98% -0.07 0.50 Updates Weekly - Last Update: 1/22 MBS / Treasuries UMBS 30YR 5.5 98.86 +0.04 Price / Yield Change MBS UMBS 5.5 98.86 +0.04 UMBS 6.0 100.73 +0.06 GNMA 5.5 99.35 +0.06 GNMA 6.0 100.86 +0.12 Pricing as of: 1/28 5:31PM EST 10 Year US Treasury 4.5374 +0.0001 Price / Yield Change US Treasury 2 YR Treasury 4.197 -0.002 5 YR Treasury 4.332 -0.001 7 YR Treasury 4.441 +0.003 10 YR Treasury 4.537 +0.000 30 YR Treasury 4.781 +0.008 Pricing as of: 1/28 5:31PM EST Latest Video The Fed is clearly worried tariffs may be more inflationary than previously... The markets overplayed its tariffs and immigration concerns, says Jefferies... January consumer confidence comes in light of expectations Herbert: Significant inventory affects supplier production levels Around the Web Marketwatch Housing market hits a key level not seen since 2009 Eye on Housing Home Price Growth Leveling Off CNBC Treasury yields rise as investors anticipate first Fed meeting of the year Marketwatch D.R. Horton, Pulte, Smith Douglas downgraded on chilly spring home-building outlook Marketwatch Treasury yields tumble in flight- to-safety move as U.S. stocks brace for heavy losses Axios What to know about Trump's ability to move interest rates FXStreet S&P CoreLogic Case-Shiller Index Reports 3.8% Annual Gain in November 2024 Calculated Risk Blog New Home Sales Increase to 698,000 Annual Rate in December CNBC Nvidia falls 10% in premarket trading as China's DeepSeek triggers global tech sell-off Calculated Risk Blog Hotels: Occupancy Rate Increased 6.7% Year-over-year CNBC Treasury yields fall as investors look to Fed meeting, key inflation data Calculated Risk Blog Housing Jan 27th Weekly Update: Inventory Up 0.7% Week-over-week, Up 26.5% Year-over-year Calculated Risk Blog January Vehicle Forecast: Sales Decline to 15.6 million SAAR, Up 4% YoY

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