Daily Financial News - Mortgage | Real Estate | Stock Market

Home Prices Higher in August. Will Housing Continue to Stabilize? This month, the S&P Case Shiller Home Price Index continued to improve as prices in 17 of 20 metro cities increased in August, California, in particular, has seen some real positive prints in recent months.

Overall, the 20-city index rose 1.2%, better than economist expectations for a read of +0.7% and the 10-city home price index increased at a rate of 1.3%. Year over year the 20-city index is 11.3% lower, again better than the market's expectation of -11.9%.

Upcoming expiration of the Federal First-Time Buyer’s Tax Credit in November and anticipated higher unemployment rates through year-end may have had a dampening effect on home prices.

Ten-Year Note Yields Declined on Tuesday - Bonds gained some ground Tuesday, pushing yields lower, after yields on benchmark securities reached the highest levels in almost two months and attracted buyers.

Ten-year note yields declined 5 basis points, to 3.51%. The yield had risen the previous four days and closed Monday at 3.56%, the first time above 3.50% since Aug. 21.