U.S. home prices in July rose from the previous month, marking the third month in a row that a closely watched index measuring the health of the housing market saw positive changes.
On Tuesday, the Standard & Poor's Case-Shiller home-price index for 10 major metros jumped 1.5%, while the 20-city index rose 1.6%. Many have taken the reports as another sign that the housing market is recovering. Sales of existing homes have risen in recent months; the inventory of homes for sale has fallen; the pace of foreclosures has slowed.
"All in all, we are optimistic about housing," said David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices, in a statement.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.66%||3.58%|
|15 yr fixed||2.79%||2.72%|
|30 yr refi||3.64%||3.57%|
|15 yr refi||2.79%||2.72%|
Today's featured rates:
|The Winklevoss twins are Bitcoin bulls|
|Bernanke's advice for college grads|
|Bloomberg's lazy Apple bias|
|Signs of new housing bubble in several areas|
|Stocks finish higher for fourth straight week|