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US home prices rose in February even as cold weather and higher rates held back sales

U.S. home prices rose in February from a year earlier at a solid pace, suggesting that a tight supply of homes for sale is boosting prices despite slowing sales.

Real estate data provider CoreLogic says prices for existing homes rose 12.2 percent in February from a year ago. That was up slightly from January's year-over-year pace of 12 percent.

On a month-to-month basis, prices in February rose 0.8 percent from January. But CoreLogic's month-to-month prices aren't adjusted for seasonal patterns, such as winter weather, which can depress sales.

Snowstorms, rising prices and higher mortgage rates combined to reduce home sales in February to their lowest level in 19 months. The number of available homes remains below the level typical of a healthy market.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.19% dw 4.27%  
15 Y Fixed Graph 3.27% -- 3.27%  
30 Y Fixed Jumbo Graph 4.70% up 4.56%  
5/1 ARM Graph 3.36% up 3.35%  
5/1 Jumbo ARM Graph 3.74% up 3.54%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.38% -- 4.38%  
$50K HELOC Graph 4.11% -- 4.11%  
$30K Loan Graph 4.98% dw 4.99%  
$50K Loan Graph 4.39% dw 4.40%  
$75K Loan Graph 4.39% dw 4.40%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.90% dw 2.91%  
36 M Used Graph 3.41% dw 3.43%  
48 M New Graph 3.15% dw 3.19%  
48 M Used Graph 2.91% dw 2.97%  
60 M New Graph 3.16% dw 3.22%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% -- 0.35%  
1 yr Graph 0.67% dw 0.68%  
5 yr Graph 1.38% -- 1.38%