Case-Shiller 20-City Home Prices Rise 2.1% as Mortgage Rates Hold Near 6.5%

1 articles · Updated · Yahoo Finance · Aug 25

June home prices extended their gains, with the S&P Case-Shiller 20-city index up 2.1% from a year earlier and the broader national index rising 1.5%.
Mortgage rates hovering around 6.5% helped steady the market during the peak selling season, while lower inflation and firmer nominal price growth slowed the real-term erosion in values.
6.5% financing costs still kept many buyers sidelined and discouraged existing owners from selling homes tied to much lower legacy mortgage rates, leaving the market under pressure.
Chicago led major metros with a 6.9% annual gain, followed by New York at 4.8% and Cleveland at 4.1%, while Seattle fell 2.0% and Las Vegas slipped 1.9%.