Key index shows home prices rose 0.9% in July

Sept. 26:

The S&P CoreLogic Case-Shiller 20-City Composite Home Price Index rose 0.90% in July, bringing the year-over-year increase to 0.10%. That’s not much, but it is the first positive annual increase seen since February. The largest price increases were in Chicago, Cleveland and New York.

FHFA: Home prices rose more than expected in July

The FHFA House Price Index, which focuses on home prices for repeat sales or refinancings where the mortgage is bought or guaranteed by Fannie Mae and Freddie Mac, was up 0.8% in July, a larger-than-expected increase.

State of the market

This morning, the Dow traded down and Treasury yields were down slightly relative to Monday morning.

Economic calendar

Tuesday, Sept. 26

• New Home Sales
• Consumer Confidence

Wednesday, Sept. 27

• Advance Durable Goods

Thursday, Sept. 28

• Weekly Initial Jobless Claims
• Q2 Gross Domestic Product
• Pending Home Sales
• Federal Reserve Chair Jerome Powell hosts a town hall with educators.

Friday, Sept. 29

• Personal Consumption Expenditures Price Index
• Personal Income/Personal Spending
• Wholesale Inventories
• University of Michigan Consumer Sentiment

Treasury calendar

Tuesday, Sept. 26

• $48 billion auction of two-year Treasury notes

Wednesday, Sept. 27

• $49 billion auction of five-year Treasury notes
• $24 billion auction of two-year Floating Rate Notes

Thursday, Sept 28

• $37 billion auction of seven-year Treasury notes

By Mike Kraft, Executive Director and Commercial Real Estate Treasurer for Commercial Banking