2017 Economic Calendar
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FHFA House Price Index  
Released On 4/25/2017 9:00:00 AM For Feb, 2017
PriorPrior RevisedConsensusConsensus RangeActual
M/M change0.0 %0.2 %0.4 %0.2 % to 0.5 %0.8 %
Y/Y change5.7 %5.9 %6.4 %

Prices are moving higher in confirmation of rising demand in the housing sector. The FHFA house price index rose 0.8 percent in February to double Econoday's consensus with January revised from no change to plus 0.2 percent. Year-on-year, FHFA prices are up 6.4 percent to revisit 2-year highs of 6.5 percent set in October and September last year.

The Middle Atlantic had a good month in February with prices up 1.1 percent though year-on-year growth, at 4.6 percent, is still the weakest of the 9 regions tracked in this report. East South Central also had a good month with a 1.8 percent monthly gain. Year-on-year, Mountain states continue to lead at 9.5 percent followed by the Pacific region at 7.6 percent.

Rising home values are a significant plus for consumer wealth and spending and the economic outlook in general. They may also help explain the sharp rise underway in consumer confidence. Watch for the consumer confidence report which follows later this morning at 10:00 a.m. ET.

Consensus Outlook
The FHFA house price index had been showing some the best strength of any indicator on household wealth but came to a standstill in January with a monthly no change and a 5 tenths drop in the year-on-year rate to 5.7 percent that is now tracking at Case-Shiller's 20-city pace. The consensus is calling for a moderate 0.4 percent monthly rebound in February that, however, isn't likely to give much lift to the year-on-year rate.

The Federal Housing Finance Agency (FHFA) House Price Index (HPI) covers single-family housing, using data provided by Fannie Mae and Freddie Mac. The House Price Index is derived from transactions involving conforming conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac. In contrast to other house price indexes, the sample is limited by the ceiling amount for conforming loans purchased by these government-sponsored enterprises (GSE). Mortgages insured by the FHA, VA, or other federal entities are excluded because they are not "conventional" loans. The FHFA House Price Index is a repeat transactions measure. It compares prices or appraised values for similar houses.  Why Investors Care
The FHFA House Price Index captures price data for an important segment of the housing market - home purchases with mortgages financed or bundled by federal housing agencies. However, this HPI does not cover high end housing.
Data Source: Haver Analytics

2017 Release Schedule
Released On: 1/252/233/224/255/246/227/258/229/2110/2511/2812/21
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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