FHFA House Price Index Declines 0.6 % from July to August

The Federal Housing Finance Agency's (FHFA) monthly House Price Index fell 0.6 percent on a  seasonally adjusted basis from July to August which is less than the 0.8 decline in July. The index is also down 5.9 percent for the year ending in August and 6.5 percent from the April 2007 peak in housing prices. Mortgage rates have declined during this period.