The MReport Webcast: Friday 11/7/2014

The number of major U.S. markets reporting home price increases grew slightly in the third quarter even as the overall rate of appreciation continued to slow. According to a report released Thursday by the National Association of Realtors, the median price for an existing single-family home rose annually last quarter in 73 percent of the 172 major metros surveyed. That share was up slightly from the second quarter, when 71 percent of metros posted year-over-year gains.

While the number of appreciating metros was up in Q3, the rate of growth was down in most areas. According to the NAR, 16 markets last quarter had double-digit increases, down from 19 in Q2 and 54 last year. The association says the national median existing single-family home price in the third quarter was a little more than 217 thousand dollars, up 4.9 percent from last year.

Fannie Mae and Freddie Mac are set to send another $6.8 billion to the U.S. Treasury after posting a mild increase in profits for the third quarter. Fannie reported net income of $3.9 billion for the third quarter, up from $3.7 billion the prior period, while profits at Freddie grew to $2.1 billion from $1.4 billion in Q2. By the end of this year, the two GSEs, which have been in conservatorship since 2008, will have returned a combined $225 billion to taxpayers—nearly 40 billion more than the amount the two companies were forced to draw to keep afloat in the aftermath of the financial crisis. Meanwhile, Washington continues to debate on what should happen to the two mortgage giants as policymakers work to revive private-label securitization and diminish the government's role in the market.