Quotes from BMO Capital Markets:- U.S. pending home sales rose 0.8% in Nov, slightly stronger than expected, after dipping 1.2% in the prior month. The gain also adds to some tentative signs that the U.S. housing market is finding firmer footing. Mortgage purchase applications, while still at low levels, have hooked up in recent months. – The Case-Shiller home price index posted a second straight solid monthly increase in October (+0.7% on a seasonally-adjusted basis) and looks to be stabilizing at a healthy (and more sustainable) 4%-5% year-over-year clip. – Finally, mortgage lending standards loosened in Q3 and Q4 which, along with still-attractive affordability and a strengthening labour market, should help support housing in 2015.
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