U.S. house prices rose in October, up 0.3 percent from the previous month, according to the Federal Housing Finance Agency seasonally adjusted monthly House Price Index.

The previously reported 0.2 percent increase in September remained unchanged. The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From October 2017 to October 2018, house prices were up 5.7 percent.

For the nine census divisions, seasonally adjusted monthly price changes from September 2018 to October 2018 ranged from a drop of 0.6 percent in the South Atlantic division to 1.4 percent in the Pacific division. The 12-month changes were all positive, ranging from 3.3 percent in the Middle Atlantic division to 8.5 percent in the Mountain division.

Also, the FHFA Index recorded an increase in mortgage rates for November.

In the U.S. interest rates on conventional purchase-money mortgages increased from October to November, according to several indices of new mortgage contracts.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.86 percent for loans closed in late November, up 11 basis points from 4.75 percent in October.

The average interest rate on all mortgage loans was 4.82 percent, up 10 basis points from 4.72 in October.

The average interest rate on conventional, 30-year, fixed-rate mortgages of $453,100 or less was 4.99 percent, up 12 basis points from 4.87 in October.

The effective interest rate on all mortgage loans was 4.91 percent in November, up 10 basis points from 4.81 in October. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.

The average loan amount for all loans was $318,600 in November, up $3,500 from $315,100 in October.