Home Prices Rise at Fastest Pace in 2 1/2 Years
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From Bloomberg News
Home prices rose 7.97% in the last quarter of 2003, the fastest rate in 2 1/2 years, as economic growth sped up while mortgage rates held near a 45-year low.
The pace of annualized price appreciation quickened from 5.88% in the third quarter, according to the Office of Federal Housing Enterprise Oversight, the regulator of mortgage companies Fannie Mae and Freddie Mac.
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