Home prices kept rising even as mortgage rates surged, S&P Case-Shiller says
PUBLISHED TUE, NOV 28 202310:44 AM ESTUPDATED TUE, NOV 28 202312:37 PM EST
By: Diana Olick
Higher mortgage rates appear to be doing very little to cool home prices.
Nationally, prices were 3.9% higher in September compared with the same month a year earlier, up from a 2.5% annual gain in August, according to the S&P CoreLogic Case-Shiller Index. This occurred as the average rate on the 30-year fixed mortgage climbed toward 8%.
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