July SP/Case-Shiller Home Price Index Up

THE S&P/CASE-SHILLER home price index for July moved up including San Francisco.

3 Oceans has the story, and a roundup of mortgage market news, including interest rates going up next month.

The upward move in home prices in July is very temporary.  Lower inventory spawned the price increase and seasonal buying.  But lenders are holding thousands of REOs off the market, the Shadow Inventory.