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The MReport Webcast: Wednesday 10/7/2015

Employment gains, wage growth, and continued low mortgage rates are pushing home prices up both year-over-year and month-over-month. In August, home prices recorded a 6 point 9 percent year-over-year increase for the single-family combined tier, including distressed sales. According to the CoreLogic U.S. Home Price Insights Report, this will mark the 42nd consecutive month of year-over-year increases.

 

On a month-over-month basis, home prices rose 1 point 2 percent. National single-family home prices remain 6 point 3 percent below peak values recorded in April 2006, but prices are forecasted to reach a new peak level in April 2017. CoreLogic forecasts that home prices in the single-family combined tier will remain flat in September and rise 4 point 3 percent from August 2015 to August 2016.

Fannie Mae and Freddie Mac were placed into conservatorship seven years ago, and questions still linger as to how and when to reform the GSEs. The Bipartisan Policy Center hosted a keynote address and panel on Tuesday, highlighting GSE reform and conservatorship, the need for more private capital in the financial system and to transfer risk away from taxpayers and GSEs, which will make housing finance more sustainable.

About Author: Jordan Funderburk

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