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Headline: The Federal Housing Finance Agency’s (FHFA) home price index climbed 0.8 per cent in May, beating expectations.Last month’s reading was revised down to 0.7 per cent.
Expectations: The FHFA”s house price index is expected to rise 0.3 per cent month-over-month.
The FHFA’s House Price Index (HPI) is calculated using purchase prices of houses with mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac.
Analysis: Home prices in the west south central region of the country were down the most at 1 per cent. While home prices in the pacific were up the most rising 1.7 per cent.
Here’s a look at the FHFA HPI chart from December 2010 – May 2012:
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