With a tight supply of houses for sale spurring bidding wars in many cities, the Standard & Poor's CoreLogic Case-Shiller 20-city home price index, released Tuesday, increased 5.7 percent in January, the most since July 2014.

Mortgage buyer Freddie Mac said Thursday that the rate on 30-year, fixed-rate home loans fell to 4.23 percent from 4.30 percent last week. The benchmark rate stood at 3.71 percent a year ago and averaged 3.65 percent in 2016, lowest in records dating to 1971.

Alma Gaul