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The MReport Webcast: Wednesday 4/1/2015

Home prices in U.S. cities saw year-over-year increases, according to the S&P/Case-Shiller Home Price Indices released Tuesday. Both the 10-City and 20-City composites saw gains in January compared to December. The 10-City composite gained 4.4 percent, up from 4.3 percent seen in December. Data released for January 2015 show that home prices continued their rise across the country over the last 12 months. However, monthly data reveals slowing increases and seasonal weakness.

The 20- City Composite gained 4.6 percent year-over-year, compared to a 4.4 percent increase in December. The index, which covers all nine U.S. census divisions, recorded a 4.5 percent annual gain in January 2015 versus a 4.6 percent increase in December 2014. Denver and Miami reported the highest year-over-year gains, as prices increased by 8.4 percent and 8.3 percent, respectively, over the last 12 months. Fourteen cities reported higher price increases.

The Consumer Financial Protection Bureau has released a new toolkit that guides consumers through the process of shopping for a mortgage and buying a home. The toolkit was developed as a part of the CFPB’s Know Before You Owe mortgage initiative and helps consumers take full advantage of the new Loan Estimate and Closing Disclosure forms that lenders are required to begin providing in August. The toolkit provides a step-by-step guide to help consumers understand the nature and costs of real estate settlement services, define what affordable means to them, and find their best mortgage.

About Author: Jordan Funderburk

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