Report: Home Prices Stabilized in October
The S&P/Cash-Shiller property values index saw slowing growth in October, with 20 US markets climbing 4.5% year-to-year, the smallest gain in two years. They rose 4.8% in September compared to the year-ago period. Still, prices have surged 25% from their recessionary nadir. And modest growth will ease entry into the marketplace for a larger number of American homebuyers.
Earlier this month, Freddie Mac reported that the 30-year mortgage rate hit a 19-month low of 3.8%, another boon to first time and middle-class house hunters.