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Seeking to make Congress a major issue in his re-election bid, President Obama called on lawmakers today to pass a bill designed to help struggling homeowners re-finance their properties.

New U.S. single-family home sales eased in August but held near two-year highs and prices vaulted to their highest level in more than five years, adding to signs of a broadening housing market recovery.

Applications for U.S. home mortgages rose last week as interest rates dropped to record lows in the wake of the Federal Reserve's latest stimulus efforts, data from an industry group showed on Wednesday.

Home prices kept rising in July across the United States, buoyed by greater sales and fewer foreclosures. National home prices increased 1.2 percent in July, compared to the same month last year, according to the Standard & Poor's/Case Shiller index released Tuesday. That's the second straight year-over-year gain after two years without one.

The average U.S. rate on the 30-year fixed mortgage touched its record low this week and the rate on 15-year mortgage hit a new record.

The rebound in the U.S. housing market accelerated in August as residential construction starts increased 2.3% and sales of existing homes rose 7.8%, according to new figures released Wednesday.

San Francisco-based online real-estate listing firm, Trulia, is expected to begin trading on the New York Stock Exchange this coming Thursday, Sept. 20, under the ticker, TRLA, according to a report. The company plans to sell 6 million shares with a price range of between $14 and $16 a share.

Record-low interest rates are out of reach for many homeowners, and a big reason is that millions are underwater. Obama and others are trying to assist them. U.S. interest rates are at rock-bottom levels, but that's not helping most Americans with mortgages.

Nationwide home prices shot up 3.8% in July, making their largest year-over-year leap since 2006, according to real estate data provider CoreLogic. The gain marks the fifth straight rise in the gauge, part of a positive swing following a year and a half of slumps. The last time prices rose so much was in August 2006, when they jumped 4.1%.

Citigroup said on Wednesday that it had agreed to pay $590 million to settle a class action lawsuit brought by shareholders who contended that they had been misled about the bank’s exposure to subprime mortgage debt on the eve of the financial crisis.