A 6.4% gain in U.S. home prices. This according to the latest S&P CoreLogic Case-Shiller Home Price Index. This and mortgage rates soaring at 7.09%, although down from 7.22% may have some homebuyers discouraged. Veuer's Elizabeth Keatinge has more.
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00:00 A 6.4% gain in U.S. home prices.
00:04 This according to the latest S&P CoreLogic Case Shiller Home Price Index.
00:09 This and mortgage rates soaring at 7.09%, although down from 7.22% may have some home
00:16 buyers discouraged.
00:18 Freddie Mac's chief economist said in a statement, "Many potential sellers remain hesitant to
00:24 list their home and part with lower mortgage rates from years prior, adversely impacting
00:30 supply and keeping house prices elevated."
00:34 Vice President and online mortgage company HSH.com, Keith Gumbager tells Forbes that
00:40 for housing recovery to occur, one thing that needs to happen is higher inventories.
00:47 This additional inventory in turn would ease the upward pressure on home prices, leveling
00:52 them off or perhaps helping them to settle back somewhat from peak or near peak levels.
00:58 Gumbager says he adds that rates returning to a 4-5% range would also help the housing
01:04 market, but he doesn't see us returning to those rates in the near future.