Runaway mortgage rates shouldn’t concern homebuyers

mortgage rates

Mortgage ratesBy Jann Swanson | Mortgage News Daily

Home prices continue to confound predictions of decelerating gains. The S&P/Case-Shiller National Home Price Index gained 5.2 percent over the 12 months period ended in October – up from the 4.9 percent gain reported for year-over-year for September. The Index, which covers all nine U.S. census divisions, was up 0.1 percent from September to October this year.

Case-Shiller’s 10-City Composite Index increased on a year-over-year basis by 5.2 percent compared to a 12-month gain in September of 4.9 percent. The 20-City also accelerated from the previous month with an annual gain of 5.5 percent versus 5.4 percent in September.

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