2017 Economic Calendar
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FHFA House Price Index  
Released On 5/24/2017 9:00:00 AM For Mar, 2017
PriorConsensusConsensus RangeActual
M/M change0.8 %0.5 %0.3 % to 0.6 %0.6 %
Y/Y change6.4 %6.2 %

Home-price appreciation continues to hold near 6 percent with FHFA's house price index just off 2-year highs at a yearly 6.2 percent. The monthly gain, at 0.6 percent, is slightly higher than expected.

The Pacific leads among the report's nine regions with a 1.4 monthly jump for a 7.9 percent year-on-year gain. The Mountain states rose 0.6 percent in the month and are the second leading region at 7.4 percent. The Middle Atlantic continues to bring up the rear, down 0.6 percent in the month and at 3.8 percent on the year.

Demand for housing, based on home prices, is steady and firm. Watch next week for Case-Shiller's 20-city index and also later this morning when advance price data for April will be posted with the existing home sales report.

Consensus Outlook
The FHFA house price index has been posting very strong rates of growth consistent with strong demand in the housing sector. The index rose 0.8 percent in the February report for year-on-year appreciation for 6.4 percent. The Mountain is the leading region at nearly 10 percent with the Mid-Atlantic in the rear at 5 percent. The March consensus is a monthly 0.5 percent.

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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