S&P says 2Q house prices fell by record amount

Decline around the nation shows no evidence of a recovery anytime soon

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Housing values in 2012
BusinessWeek weighed historical data to forecast the median price of homes in major metro areas in 2012.

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Latest interest rates

See today's average mortgage rates across the country.

Loan type	Today	+/-	Last week
30-year fixed	5.29%		5.34%
15-year fixed	4.84%		4.94%
30-year fixed jumbo	6.33%		6.49%
5/1 ARM	4.65%		4.94%
7/1 ARM	5.77%		5.41%

Source: Bankrate.com | View rates in your area

See today's average home equity rates across the country.

Loan type	Today	+/-	Last week
$30K HELOC	5.02%		5.06%
$30K home equity loan	8.28%		8.38%
$75K home equity loan	8.11%		8.22%
$50K home equity loan	8.13%		8.23%
$50K HELOC	4.73%		4.80%

Source: Bankrate.com | View rates in your area

See today's savings rates across the country.

Savings type	Today	+/-	Last week
Money market	1.25%		1.27%
$10K money market	1.27%		1.28%
Six-month CD	1.35%		1.38%
One-year CD	1.71%		1.73%
Five-year CD	2.57%		2.58%

Source: Bankrate.com | View rates in your area

See today's average auto rates across the country.

Loan type	Today	+/-	Last week
48-month new car loan	7.26%		7.30%
36-month used car loan	7.73%		7.77%
36-month new car loan	7.10%		7.14%
60-month new car loan	7.35%		7.40%

Source: Bankrate.com | View rates in your area

See today's average credit card rates across the country.

Card type	Fixed	Variable
Standard	13.46%	11.08%
Gold	12.23%	9.56%
Platinum	10.84%	11.64%
All	12.17%	11.14%

Source: Bankrate.com | View more rates

updated 9:55 a.m. ET Aug. 28, 2007

NEW YORK - U.S. home prices fell 3.2 percent in the second quarter, the steepest rate of decline since Standard & Poor's began its nationwide housing index in 1987, the group said Tuesday.

The decline in home prices around the nation shows no evidence of a market recovery anytime soon.

MacroMarkets LLC Chief Economist Robert Shiller said the declining residential real estate market "shows no signs of slowing down."

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The index tracks the price trends among existing single-family homes across the nation compared with a year earlier .

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Home prices seen falling further before rebound

A separate S&P/Case-Shiller index that covers 20 U.S. cities fell 3.5 percent from a year earlier. A 10-city index fell 4.1 percent from a year earlier.