Home prices continue to rise, making our clients that much more grateful for the professionals who helped them get their feet in the door to all that equity. Prices rose 0.1%-1.3% MOM and 6.5%-6.7% YOY according to Case-Shiller and FHFA, respectively. That’s in line with the previous Black Knight and Core Logic findings last week.  FHFA pins Utah with a 5.8% appreciation rate from this time last year.

As far as interest rates go, the MBS pricing has dropped below where it was prior to the last CPI report, which has raised today’s interest rates.  The exuberance for bonds has waned as stock prices are back up to all time highs, and ahead of this Friday’s PCE report, which is the Fed’s favorite way to measure inflation.