Market update June 2, 2015: home price indices, mortgage rates

CoreLogic’s Home Price Index Report showed:

• A 2.7 percent increase in home prices month over month in April 2015.
• A 6.8 percent increase in home prices year over year in April 2015 (from April 2014).
• A forecast of a 1.1 percent increase in home prices month over month from April 2015 to May 2015.
• A forecast of a 5.3 percent increase in home prices year over year from April 2015 to April 2016.

Zillow Mortgages reported:

• The 30-year fixed mortgage rate is 3.78 percent, down one point from last week.
• The 30-year fixed mortgage rate was 3.74 percent for most of the week before rising today to its current 3.78 percent rate.
• The 15-year fixed mortgage rate is 2.93 percent.
• The 5-1 adjustable-rate mortgage rate is 2.8 percent.

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