Reported 6 months ago
U.S. house price inflation decelerated in March, with prices increasing by 0.1% compared to 1.2% in February, according to the Federal Housing Finance Agency. This slowdown was attributed to rising mortgage rates impacting demand, leading to a 6.7% year-over-year increase in house prices in March. Existing home sales declined as the average rate for a 30-year fixed-rate mortgage approached 7%, but low housing inventory levels are expected to keep house prices elevated for the foreseeable future.
Source: YAHOO