Eariler this week, the Federal Reserve released the minutes from its 2-day meeting which ended August 1, 2012. Since the release, mortgage rates have dropped.
For August 2012, the National Association of Homebuilders reports the monthly Housing Market Index at 37 -- an increase of more than 100% from one year ago and the highest HMI value since February 2007.
Rising home prices are taking a toll on today's home buyers. For the first time in 4 quarters -- and despite falling mortgage rates -- home affordability is sinking.
According to data from RealtyTrac, a national foreclosure-tracking firm, the number of foreclosure filings dipped below 192,000 in July 2012, a 3 percent decrease from the month prior.
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