Home prices across the country increased again in July 2015, according to S&P/Case-Shiller Home Price Indices. The index, which covers all nine U.S. census divisions, showed July 2015 home prices rose 4 point 7 percent year-over-year compared to a 4 point 5 percent increase recorded the prior month.
The 10-City Composite was mostly unchanged from last month, experiencing a 4 point 5 percent increase year-over-year, while the 20-City Composite gained 5 percent. The cities with the highest year-over-year gains were San Francisco at 10 point 4 percent, Denver at 10 point 3 percent, and Dallas at 8 point 7 percent. Meanwhile, 14 cities reported greater price increases in the year ending July 2015 over the previous year.
Consumer Financial Protection Bureau Director Richard Cordray once again sat before the House Financial Services Committee on Tuesday for the CFPB's semi-annual report to Congress on Tuesday and discussed the Bureau's efforts to protect consumer while taking questions from Committee members on such topics as mortgages, auto lending, payday lending, and the TRID rule. The Democrats on the Committee applauded Cordray's work as Director of the CFPB, while the Committee's Republicans continued to question the Bureau's perceived lack of accountability and transparency.