Two housing reports were out at 9am this morning that showed housing prices continued to increase, but the pace continues to slow. The Federal Housing Finance Agency (FHFA) House Price Index rose by a 0.2% in September, below the consensus estimate and August reading of 0.4%.
Also, out was the Case-Shiller 20-City House Price Index. This increased more than expected in September, up 0.33% m/m vs. an estimate of 0.10%. On a y/y basis the index rose 5.15%, down from 5.49% in August. The y/y increase was the lowest since November 2016.
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