There are a few tidbits of information out today that show just how favorable our current housing market is. The first is that the Federal Housing Finance Administration (think of them as Fannie and Freddie’s parents) compute a Housing Price Index which shows a 6.5% annual appreciation rate for single family homes.  Case-Shiller’s similar 20 City Index estimates a 5.1% increase over this last same year.  Black Knight says that only 1% of all mortgages are in active foreclosure–the lowest in the last nine years.

On the financing side, several Fed governors have been out on the speaking circuit.  One says that he sees three rates hikes over the next year, starting a month(-ish) from now.  Another says that the Fed will need to keep rates lower over the next two years to meet the 2.0% inflation target.  Fed Futures show a 71% chance of a rates hike at the December FOMC meeting, but nary a prospect at next week’s meeting.