Money Matters - Simplified

home mortgage

U.S. home prices rose in April

Washington -- The U.S. Federal Housing Finance Agency said Tuesday that home prices rose 0.8 percent in April from March.

Home prices over 12 months, April to April, fell 1.5 percent with the U.S. House Price Index 12.8 percent below its peak of April 2007, the agency said.

The agency revised its February to March housing price change from a 0.3 percent increase to a gain of just 0.1 percent.

Comparing the nine census divisions in the latest monthly survey, home prices rose fastest in the East North Central Division, up 2.4 percent, and fell furthest in the Middle Atlantic Division, down 1.3 percent.

Copyright 2010 United Press International.

Bank of America to rescue distressed borrowers

Bank of America (BOA) on Wednesday announced that it would take steps to help mortgage borrowers who owe significantly to the bank.