Home Price Gains Accelerate in September
On a national level, prices rose 3.2% annually in September, up from a 3.1% gain in August, According to the S&P CoreLogic Case-Shiller U.S. National Home Price Index.The 10-City Composite annual increase was 1.5%, unchanged from the previous month. The 20-City Composite rose 2.1% annually, up from 2.0% in August. San Francisco was the only city in the Composites to show an annual decline in home prices (-0.7%).
Mortgage Rates have been very low since the spring. The average rate on the 30-year fixed Has hovered between 3.6% and 4% since June, giving buyers more purchasing power and Helping to reignite the heat under home prices.