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U.S. House Prices up 7.3%

According to the Federal Housing Finance Agency, house prices are up 7.3 percentage through May.  Its possible that increasing mortgage rates may begin to stabilize prices in the future. The current average rate of a 30-Year fixed loan is 4.37%.  

The California and Oregon area have experienced the most gains in housing price, up 15.8% for the year before.

Welcome news or a bubble?