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Home Price Report Defies Odds; Rates Lower Ahead of Fed; Ocwen Restructuring; Homeownership Stumbles

Home Price Report Defies Odds; Rates Lower Ahead of Fed; Ocwen Restructuring; Homeownership Stumbles

Home prices measured by CoreLogic's Home Price Index (HPI) posted their largest gains in nearly a year in March, continuing to confound the company's own forecasts. The HPI, which includes sales of distressed properties, was up 1.6 percent from February to March. This was the biggest monthly jump since the index gained 1.8 percent from March to April 2016. The January to February increase was 1.0 percent. On an annual basis, the CoreLogic HPI was up 7.1 percent compared to a 7.0 percent year-over-year change in February. The March's increase fell short of December's 7.2 percent advance, the largest advance of 2016. The company is projecting a 0.6 percent appreciation in home prices from March to April and that prices will increase by 4.9 percent on a year-over-year basis from March 2017 to
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