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Home values increased by an annualized rate of 7.6% during the second quarter of 2002, according to the Conventional Mortgage Home Price Index.
This is down slightly from an annualized rate of 7.9% in the first quarter. The index was developed jointly by Freddie Mac and Fannie Mae, but Freddie Mac has released the data.
From the second quarter 2001 through the second quarter 2002, the annual house price appreciation rate was a "robust" 6.3%, Freddie Mac said, adding that home price appreciation rates have slowed significantly from peak growth rates experienced during early 2001.
In fact, this is the fifth consecutive quarter that the CMHPI has measured a decline in annual growth rates.
According to the Office of Federal Housing Enterprise Oversight's Home Price Index, the annualized appreciation rate was 7.52%, down from 7.66% in the first quarter.
OFHEO found that average home prices increased 6.48% from the second quarter of 2001 through the second quarter of 2002.
Meanwhile, Washington-based Fannie Mae said its National Housing Survey found 85% of respondents saying the value of their home has increased at least a little since they bought it, with 61% saying it increased a lot.
Source: HighBeam Research, Freddie Data Show No Sign of a Bubble.(Federal Home Loan Mortgage...