Home prices rose slightly in August

U.S. home prices rose 0.8 percent in July, the Federal Housing Finance Agency said Thursday. The agency's House Price Index tracks prices for homes with mortgages backed by either the Federal National Mortgage Association or the Federal Home Loan Mortgage Corp. Data shows the index is 3.3 percent below July 2010 and 18.4 percent below the index peak in April 2007. Of the nine regional divisions tracked, prices rose furthest in the West North Central Division, rising 3.6 percent, the report said. Prices dropped farthest in the South Atlantic Division, where prices fell 0.4 percent.