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Home Price Growth Reached A New High In November: FHFA

Inman Connect Home prices rose 11 percent year-over-year in November, marking six consecutive months of home price growth according to the Federal Housing Finance Authority’s latest home price index released on Tuesday. November’s HPI beat the previous 15-year high set in October at 10.2 percent. Although the pandemic shuttering the normally robust spring homebuying season, FHFF Deputy Director of the Division of Research and Statistics Dr. Lynn Fisher said low-interest rates caused a buying frenzy, which caused home prices to continue their ascent amid low inventory levels. “House prices have risen by at least one percent for six consecutive months,” Dr. Fisher said in a written statement. “The acceleration has been slowing but annual gains now outpace the prior housing boom. Current conditions can be explained by fundamentals, including low rates and tight housing supply, which have been intensified by the pandemic.”

FHFA Extends COVID-19 Multifamily Mortgage Forbearance through March 31, 2021 | Orrick - Finance 20/20

On December 23, the Federal Housing Finance Authority (FHFA) announced an extension of the COVID-19 relief mortgage forbearance to qualifying multifamily property owners through March.

Home Prices In October Rose At The Highest Rate In 15 years: FHFA

The massive gains in the house price index (HPI) were propelled by extremely low mortgage rates which continue to set records seemingly every week and a limited supply of homes for sale, according to Lynn Fisher, FHFA’s deputy director of the division of research and statistics. “U.S. house prices rose for the fifth straight month since states re-opened their local economies,” Fisher said. “The 12-month gain of 10.2 percent in October is the highest annual appreciation observed since the 2004-2005 period.” The data does not reflect some of the most recent lockdown orders that have been implemented locally, since the start of the latest COVID-19 wave.

Stimulus update: COVID-19 pandemic relief set to expire

Stimulus update: COVID-19 pandemic relief set to expire
chicagotribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagotribune.com Daily Mail and Mail on Sunday newspapers.

Pandemic relief set to expire — here s what to know - The Edwardsville Intelligencer

Pandemic relief set to expire — here s what to know - The Edwardsville Intelligencer
theintelligencer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theintelligencer.com Daily Mail and Mail on Sunday newspapers.

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