According the S&P Case Shiller survey covering 10 major U.S. cities, the home price index rose 9.4% in the year ended in May. Nationwide home price appreciation on a year over year basis is at the slowest rate since February of 2013. San Francisco and San Diego’s year over year figures decelerated by about 3 percentage points. Meanwhile mortgage rates were unchanged on mixed economic data. Conforming no point 30 year fixed rates average 4 1/4% with 15 year rates closer to 3 1/4.
And now for something completely different: Did you know that in Denmark, people eat about 36 pounds of candy a year? That’s the highest consumption of candy of any country.
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This is Mehran Aram with today's ARAMCO Report.