interest rates

Elaine Thompson / Associated Press

Home prices in the Seattle metro area in May showed their biggest monthly gain in more than 20 years, as a tight supply of homes and low interest rates drive values higher.

Until recently, interest rates were at record lows, and that’s been spurring people to jump back into the housing market after the 2008 crash. Home prices in the Seattle metro area climbed more than 3 percent in May compared with April. That’s according to the Standard and Poor’s Case Shiller Home Price Index.