``The FHFA's house price index, which is calculated using home sales price information released by Fannie Mae and Freddie Mac, rose 1.6% over the last quarter. The HPI also increased 5.5% over the latest four quarters.

The FHFA's HPI revealed that of the nine census divisions, the strongest increase in home prices was seen in the Pacific, which posted a 4.2% price increase in the latest quarter. Conversely, the East North Central division remained unchanged from the prior quarter.''

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