U.S. home prices rose 0.32% in April, marking the strongest monthly gain in nearly two years and a 3.9% annualized rate. Annual growth accelerated to 0.9%. Ninety percent of markets saw price increases, led by the Northeast, while declines were in the South and West. First-time homebuyers made up over half of purchase loans in March. Q1 refinance lending hit a four-year high, and purchase loans closed at the fastest pace on record.
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