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US Home Prices Rise at Slower Pace

David McNew/Getty Images

WASHINGTON (AP) — A measure of U.S. home prices rose only slightly in September from August, a sign that prices are leveling off after big gains earlier this year.

Real estate provider CoreLogic says home prices increased 0.2 percent in September from the previous month. That’s sharply lower than the 0.9 percent month-over-month gain in August and the 1.8 percent increase in July.

Prices still rose 12 percent in September compared with a year ago.

Higher mortgage rates and prices slowed home sales in September. As a result, price gains have cooled off.

Mortgage rates are still very low. And the average rate on a 30-year fixed loan has fallen to 4.1 percent in the past month, down from a two-year high of nearly 4.6 percent over the summer.

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