The Case-Shiller report showed an 8.4% increase in home prices annually in October – the highest rate in six years.

Bill Banfield, Rocket Mortgage Executive Vice President of Capital Markets, offers the following insight on the report:

“The chronic shortage of housing inventory will continue to push home prices higher for the foreseeable future.  Homeowners can celebrate their rising equity, while buyers can rest assured that mortgage rates are expected to remain low throughout 2021, offsetting some of the price growth.”

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