Home prices are continuing to rebound, and more home owners are taking advantage of refinancing to lower their monthly mortgage payments, according to the Obama Administration’s November Housing Scorecard report.

The scorecard highlights the housing market’s big strides, a marked improvement that has not been seen since before the housing crisis.

“Six consecutive months of rising home prices have bolstered home owners’ equity,” said Erika Poethig, HUD acting assistant secretary for Policy Development and Research. Nationwide home owner equity is now $1.5 trillion higher than in April 2009.

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