Freddie Mac reported last week that its quarterly national Conventional Mortgage Home Price Index (CMHPI) rose 12.1% for the period from 3Q04 through 3Q05. For the quarter, home prices grew 2.9%, or 12.3% annualized. This is down from the second quarter's revised annualized rate of 15.3%, previously reported as 13.2%.

In a related development, the Office of Federal Housing Enterprise Oversight reported similar results the previous week, noting that over the period from 2Q04 through 3Q05, home prices rose 12.02%. This was down, however, from the previous four-quarter timeframe, which recorded a 14.01% jump. For the third quarter, appreciation was 2.86%, down from 3.55% in the second quarter.

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