House price index up

U.S. house prices rose in February, up 0.6 percent from the previous month, according to a Federal Housing Finance Agency (FHFA) news release on its seasonally adjusted monthly House Price Index (HPI). The previously reported 0.8 percent increase in January was revised upward to 0.9 percent. The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From February 2017 to February 2018, house prices were up 7.2 percent. More information on the HPI can be found on the agency's HPI Frequently Asked Questions (FAQ) page.