Although the housing market has not yet made significant strides this year toward recovery, Fitch Ratings’ Chalk Line report suggests that, as the year continues, more growth and stability will be apparent. As the economy begins to gain momentum and job growth increases, the housing market will follow suit. Some factors that may negatively affect the housing market may be rising prices, low income levels and investor participation. Experts say it may be a slow start, but the housing market will soon level out and make profitable gains once again. More here

Many baby boomers are making the decision to downsize, according to research. An increased number of people born between 1946 and 1964 are trading in their hefty mortgages and oversized SUVs for smaller, more efficient homes and vehicles. Boomers may be downsizing, but research suggests that they are not sacrificing quality in the transition. Sheryl Connelly, the global consumer trends and a “futurist” for Ford said, “the boomer population has always set the trends,” she adds, “and now they’ve set a course for a more streamlined life that doesn’t sacrifice style and comfort.” Morehere

Unemployment rates fell last week and consumer confidence improved. The number of people filing for unemployment payments fell, declining to levels not seen in approximately seven years. Firings are also declining as many companies are preparing for an increase in sales due to the recovering economy. Manufacturing has also improved, showing more signs of a healthier and continually improving U.S. economy. Brian Jones, senior U.S. economist at Societe Generale said, “the labor market is getting better, you’re going to see it improve further as we go through the balance of the year.” More here

According to the Mortgage Bankers Association, mortgage applications jumped by 4.3% this week, making this the first increase in four weeks. The Market Composite index increased 4.3%; the Refinance Index rose 7%, and the refinance share of mortgage activity jumped to 52%. Additionally, the national average contract interest rate for the 30-year fixed-rate mortgage with conforming loan balances fell .09%, and the national average 30-year fixed-rate mortgage with jumbo loan balances decreased .10% from last week. More here

According to new data, house flipping is experiencing a resurgence. Flipped homes made up 4.6% of all single-family home sales last year in the United States, a 0.4% increase from 2012. The Vice President of RealtyTrac, Daren Blomquist said, “strong home price appreciation in many markets boosted profits for flippers in 2013, despite a shrinking inventory of lower-priced foreclosure homes. For the year, 21% of all properties flipped were purchased out of foreclosure, but that is down from 27% in 2012 and 32% in 2011.” Experts have given a few tips to help house flippers, such as knowing your market, search for flippable houses in unconventional ways, never buy a house you could not make money on by selling the next day, and pay attention to local and national housing data. More here