Home prices up 6% in January

(CNN)– Home prices went up 6% in January when compared to 12 months prior.

Officials say that’s the biggest yearly hike since the end of 2022.

And it comes on the heels of a 5.6% annual increase in December.

The 30-year fixed rate mortgage was nearly 6.9% at the end of last week, according to Freddie Mac.