U.S. house prices rose 12.2% in May, the highest in 6 years

U.S. house prices rose 12.2% in May, the highest in 6 years. According to the housing price index released on Tuesday, U.S. house prices rose 12.2% in May compared with the same period last year...

U.S. house prices rose 12.2% in May, the highest in 6 years. According to the housing price index released on Tuesday, U.S. housing prices rose 12.2% year-on-year in May, the largest increase since March 2006. At the same time, the S&P Shiller House Price Index's house price index survey of 20 major cities in the United States also showed that house prices in the United States increased by 2.4% in May compared with April, which is also close to historical highs. Among the 20 cities, Dallas and Denver saw their highest home price gains since 2000. The rise in housing prices is due to the housing market being in short supply, wages rising steadily, and mortgage rates reaching historical lows. Rising house prices are of great benefit to promoting the healthy development of the housing market and economic recovery, allowing more sales prices to participate in the housing market and stimulating consumption. Mortgage interest rates began to rise in early May, and the 30-year fixed mortgage interest rate rose to 4.51% from the beginning of May to the end of June, reaching the highest level in two years. Mortgage interest rates have soared since Federal Reserve Chairman Ben Bernanke said he would slow down bond purchases in the second half of this year. The Fed's bond-buying program keeps long-term interest rates low, encouraging more borrowing and spending.