Home prices surged over 20% in March as interest rates also rose, according to S&P Case-Shiller

Rising mortgage rates did not slow down rising home prices in March. Nationally, home prices were 20.6% higher than they were in March 2021, according to the S&P CoreLogic Case-Shiller Home Price Index. That is higher than the 20% gain in February. The index is a three-month running average ending in March. The average rate on the 30-year fixed mortgage stood at 3.29% at the start of January and ended March at 4.67%, according to Mortgage News Daily. The Case-Shiller 10-city composite rose 19.5% annually in March, up from 18.7%…

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