US: Housing Price Index up 1% in July vs. 0.5% expected

House prices in the US rose more than expected in July.
US Dollar Index clings to daily gains above 94.00 after the data.

Eren Sengezer FXStreet

The Housing Price Index (HPI) in the US rose 1% in July, the Federal Housing Finance Agency's (FHFA) monthly report showed on Wednesday. This reading matched June's reading (revised from 0.9%) and came in higher than the market expectation of 0.5%.

Earlier in the day, the Mortgage Bankers Association (MBA) reported that Mortgage Applications increased by 6.8% in the week ending September 18th.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen gaining 0.15% on a daily basis at 94.12.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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