Home Price Growth Grinds to Halt. What Does It Mean For Conforming Loan Limit Outlook?
Today brings the release of June's home price indices from both the FHFA (the regulator that oversees Fannie and Freddie, the entities that guarantee a majority of mortgages in the U.S.) and S&P Case Shiller. These are the two most widely followed measures of home prices and FHFA's data is particularly important as it determines changes in the conforming loan limit.
Both indices decelerated in June, but both remain historically high in year-over-year terms.
For those curious as to how the recent surge in prices stacks up with the housing boom that preceded the mortgage meltdown and financial crisis, here you go:
Year-over-year numbers certainly don't tell the story of the recent shift in prices. The following chart shows the month-over-month changes, with the most
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