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US Housing Prices Surge, Reinforcing Higher-For-Longer Interest Rates

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The US Housing Price Index saw a 0.3% month-on-month rise in July, exceeding forecasts by a significant margin.

This unexpected bump keeps year-over-year home price growth at around 5.4%, indicating that shelter inflation will remain a concern for the Federal Reserve.

As a result, experts expect interest rates to stay elevated, which could have a ripple effect on equity markets and derivative traders.

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