Home prices show marked improvement

Home prices showed a quarterly increase in every region in the U.S. for the first time in two years, according to a report released today by Freddie Mac, buoying hope that home prices may soon stabilize. Analysts at Freddie Mac attributed the market improvement, in part, to record low mortgage rates. Freddie Mac has suggested before that U.S. mortgage rates’ continued low levels are an indicator of a stabilizing housing market. While rates have risen this summer, they still remain far below their level at the same time last year.