Have Home Prices Hit Bottom?

The data for February existing home sales are in, and the numbers came in stronger then expected. Could this be the first signal to the US housing market recovering?

Today's Economic Data: February Existing Home Sales

Some Mortgage Companies Blackball Arizona

At this point it is really hard to say as many lenders have begun to make home financing for A+ clients nearly impossible. Some lenders have even gone as far as to blackball some states in which they lend in.

Mortgage lenders are still losing money in their mortgage investments which will likely continue to push mortgage rates higher and keep pressure on home sales.