Mortgage rates went flat at 3.47 percent since last week, according to the latest mortgage rates data from the Mortgage Bankers Association (MBA).
Home prices increased by 9.3 percent, their largest annual margin in nearly seven years. But experts warn that a backlog in some markets could keep home prices low for the foreseeable future.
Pending home sales rose 1.5 percent in March, increasing 7 percent above the level seen a year ago, according to the latest pending home sales data from the National Association of Realtors.
GDP expanded at a 2.5 percent annual rate in the first quarter. Economists expect slowdown in GDP growth this summer as sequester takes hold, which already delayed air traffic briefly.
The risk of mortgage default is one-third lower for people with energy efficient homes, according to a recent study. Energy efficient homes can save up to $250 per month, Alic writes, an amount that for many households could be the difference between foreclosure and mortgage repayment.
New home sales improved again in March. Despite a minor slowdown in existing home sales, analysts are optimistic that the US housing recovery is continuing and that home prices will rise.
Home sales declined 0.6 percent in March according to the National Association of Realtors' Existing Home Sales report.
The US housing market, long the sluggard in the recovery, builds on its rebound, with prices of existing homes up 12 percent last month from a year ago. In a twist, many buyers aren't individuals but rather corporate investors.
Mortgage rates declined 4 basis points to 3.52 percent since last week, according to the latest mortgage rates data from the Mortgage Bankers Association.