IRVINE, Calif.— CoreLogic® today released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ data for April 2016 which shows home prices are up both year over year and month over month.
Home prices nationwide, including distressed sales, increased year over year by 6.2% in April 2016 compared with April 2015 and increased month over month by 1.8% in April 2016 compared with March 2016, according to the CoreLogic HPI.
Economists are split about the timing of the Federal Reserve’s next interest-rate increase, reflecting the uncertainty of the current economic and financial environment magnified by a potentially disruptive vote in the U.K. next month over its place in the European Union.
About 31% of economists surveyed by The Wall Street Journal this month said the Fed will raise short-term interest rates at its June 14-15 meeting, while another 31% expected it to wait until September. Another 21% thought the Fed will next move at its July meeting. For the first time since February, June wasn’t the economists’ consensus pick for the next Fed rate increase.
In April, three quarters of respondents predicted the Fed would raise rates in June.
U.S. new car and light-truck sales returned to the fast lane in April, setting a monthly high that bodes well for Detroit auto makers aiming for record 2016 profits.
Read more: http://www.nasdaq.com/article/auto-sales-spring-ahead–wsj-20160504-00087#ixzz47hpzY3Sb