U.S. home prices are up 6.8 percent from one year ago, while the share of foreclosed properties on the market has dropped significantly, according to figures released today by real estate valuation company Clear Capital.
Mortgage rates held steady this past week, remaining near all-time lows, according to the weekly rate survey from Freddie Mac.
Fixed-rate mortgages were virtually unchanged, with both 30-and 15-year rates moving only a single basis point. In the case of 15-year loans, the average rate declined to 4.20 percent, a new all-time low, with 0.7 points paid.
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Mortage Rates Hold Steady
Signed contracts for home sales rose 6.0 percent in April, as homebuyers sought to take advantage of expiring tax credits before an April 30 deadline, according to figures released today by the National Association of Realtors (NAR).
Private residential construction rose a seasonally adjusted 4.4 percent in April, as homebuyers moved to take advantage of an expiring federal tax credit.
Consumers held the line on spending in April, putting more into savings even as incomes rose.
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Incomes Up, But Spending Flat
Mortgage rates fell again this past week, hitting record or near-record lows, according to the weekly Freddie Mac survey.
New home sales surged in April to their highest rate in two years, as purchasers took advantage of expiring tax credits for new and repeat homebuyers.
Home prices fell in the first quarter of the year, despite tax incentives and continued low interest rates, suggesting renewed weakness in the housing market, according to figures released today by Standard & Poor’s/Case-Shiller.
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Home Prices Decline Despite Tax Credit
Existing home sales rose for the third consecutive month in April, as buyers took advantage of a soon-to-expire tax credit, according to a report out this morning by the National Association of Realtors (NAR).