US house prices rise

US house prices rose 1.5% in the third quarter according to the Federal Housing Finance Agency House Price Index (HPI).

House prices rose 6.1% from the third quarter of 2015 to the third quarter of 2016.

FHFA's seasonally adjusted monthly index for September was up 0.6% from August.

The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. FHFA has produced a video of highlights for this quarter.

FHFA supervisory economist Andrew Leventis said: "Our data indicate that the deceleration in home price growth that we observed in late spring proved to be short-lived.

"While price growth in select markets has cooled somewhat, for the US as a whole, the third quarter showed no evidence of a widespread slowdown."