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||3.77%||3.60%|
|15 yr fixed||2.88%||2.74%|
|30 yr refi||3.76%||3.58%|
|15 yr refi||2.88%||2.73%|
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