The latest Case-Shiller home-price index may suggest the housing market has turned the corner, but the report still tells an uneven story.
Many have honed in on July's 1.6% bump capturing home prices across 20 U.S. cities, but that's the non-seasonally-adjusted number and doesn't take into account fluctuations in the data, says Jed Kolko, economist with Trulia, a San Francisco-based residential-property listings website.
A better guide would be the seasonally-adjusted number of 0.4%, which suggests a smaller rise -- in fact, the smallest in the last five months. Indeed, prices nationwide are higher than they were a year ago but the recovery is still bumpy.
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.75% | 3.66% | |
| 15 yr fixed | 2.89% | 2.79% | |
| 5/1 ARM | 2.66% | 2.59% | |
| 30 yr refi | 3.74% | 3.64% | |
| 15 yr refi | 2.89% | 2.79% |
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