CoreLogic Insights Blog
The CoreLogic HPI for November 2018 shows that home prices increased by 5.1 percent from a year ago. November marked the eighth consecutive month of slowing annual HPI growth. Rising mortgage rates, which reduce affordability, are the likely culprit for the slowdown in appreciation. Mortgage interest rates in November averaged 4.9 percent – the highest monthly average in almost seven years. The HPI forecast indicates the slowdown in growth will continue into next year – HPI growth is predicted to be 4.8 percent in November 2019.
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