Housing

Mortgage loan rates remained unchanged or dipped slightly last weeks while mortgage applications declined slightly as well.
U.S. home prices rose nearly 7% year over year in February, according to the CoreLogic Home Price Index. Home prices are now more than 50% higher than their lowest point in 2011.
Pending home sales rose 3% month over month in February but remain behind last year's pace as inventory remains low and prices keep rising.
Mortgage loan rates rose on four popular loan types last week and applications for new mortgages rose 5%. Refinancing applications also rose after reaching a near 10-year low in the prior week.
The Case-Shiller national house price index for January jumped 6.2% and home prices in all but one of the 20-city index rose month over month.
While there is absolutely no guarantee that these homebuilders will be acquired, they all are outstanding stocks on their own for aggressive growth portfolios.
First-time homebuyers face a triple whammy of rising home prices, rising interest rates, and low inventory of starter homes.
Rising home prices are a good thing in general. The problem is that as housing prices rise, most incomes are not rising enough to keep up with the price increases.
The National Association of Realtors announced Wednesday that February sales of existing homes rose 3% after falling in the two prior months. Sales were strongest in the South and West.
Mortgage loan rates made small moves over the past week according to the Mortgage Bankers Association. Applications rose, but refinancings fell to their lowest level in more than nine years.
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Last year U.S. home prices reached parity with home prices at the previous market peak posted in 2006. But the recovery has been unequal and some states still lag well behind.
Applications for new mortgages remained essentially flat last week and mortgage interest rates did the same. Rates remain right around year-to-date highs however.