Quick Takes: Signs of life in housing market

The Wall Street Journal reports, “Housing shows signs of life,” and says falling prices are prompting buyer demand and lifting home sales and new construction. “The spring selling season, traditionally the busiest period of the year, appears to be off to its best start in five years,” according to the article.

Mortgage rates climb above 4 percent
NPR reports that interest rates on a 30-year fixed mortgage rose above 4 percent for the first time in more than three months.

Underwater mortgages hit minority communities hardest
The Chicago Tribune reports on a new report from the Woodstock Institute that finds “minority communities are twice as likely to have little or no equity in their homes.”

In news from around the state:

Illinois posts home sales increase, the McHenry County Business Journal reports.

Springfield home sales looking up, WICS-TV reports.

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.