Thanks in part to interest rates continuing at all-time lows, home affordability in the U.S. remains near the most attractive levels in 10 years. HUD’s Neighborhood Stabilization Program (NSP) has spurred local investment and is beginning to make affordably-priced homes available to consumers.

“The housing market is performing better than the predictions made over a year ago,” said HUD Assistant Secretary Raphael Bostic. “We’re absolutely not claiming victory. But improved home affordability is continuing to provide opportunities for prospective, qualified home buyers, while promising neighborhood stabilization efforts are helping hard hit neighborhoods start to recover.”

“Programs to stabilize the housing market have helped many across the country weather this crisis,” said Treasury Assistant Secretary Herb Allison. “Our initiatives continue to offer responsible homeowners the chance to avoid the often painful process of foreclosure.”

Key data on the health of the housing market:

Historic low rates continue to promote affordability: Families continue to benefit from the lowest rates in history on 30-year fixed mortgages. Since April of 2009, record low rates have helped more than 7.2 million homeowners to refinance, resulting in more stable home prices and $12.9 billion in total borrower savings.