The Wall Street Journal reports, “Housing shows signs of life,” and says falling prices are prompting buyer demand and lifting home sales and new construction. “The spring selling season, traditionally the busiest period of the year, appears to be off to its best start in five years,” according to the article.

Mortgage rates climb above 4 percent
NPR reports that interest rates on a 30-year fixed mortgage rose above 4 percent for the first time in more than three months.

Underwater mortgages hit minority communities hardest
The Chicago Tribune reports on a new report from the Woodstock Institute that finds “minority communities are twice as likely to have little or no equity in their homes.”

In news from around the state:

Illinois posts home sales increase, the McHenry County Business Journal reports.

Springfield home sales looking up, WICS-TV reports.