Housing Turnaround?

Could it be a sign of recovery? After the Fed has worked to push mortgage rates lower and lower, there was good news for the housing market yesterday: existing home sales rose 5.1% in the month of February to a seasonally adjusted annual rate of 4.72 million units, according to the National Association of Realtors (NAR). Reasons could be 30-year mortgage rates around 5%, which the Fed has pushed lower by intervening in the mortgage market; the stimulus package's $8,000 tax credit for home buyers; low prices on foreclosed properties; or all three. A warning against premature celebration: sales are still 4.6% lower than they were a year ago, NAR points out.

Presented by

Chris Good is a political reporter for ABC News. He was previously an associate editor at The Atlantic and a reporter for The Hill.

What Happened to the Milky Way?

Light pollution has taken away our ability to see the stars. Can we still save the night sky?

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

What Happened to the Milky Way?

Light pollution has taken away our ability to see the stars. Can we still save the night sky?

Video

The Faces of #BlackLivesMatter

Scenes from a recent protest in New York City

Video

Desegregated, Yet Unequal

A short documentary about the legacy of Boston busing

Video

Ruth Bader Ginsburg on Life

The Supreme Court justice talks gender equality and marriage.

Video

Social Media: The Video Game

What if the validation of your peers could "level up" your life?

Video

The Pentagon's $1.5 Trillion Mistake

The F-35 fighter jet was supposed to do everything. Instead, it can barely do anything.

More in Politics

Just In