The Fed data also shows that a degree still makes an important contribution to financial stability.

Signs of a cooling market in March include a Friday government report showing housing starts fell to the slowest pace since May 2017.

Mortgage rates that started to ease late last year and tax cuts are helping to lure buyers.

The curve initially dips below zero just under two years before the Great Recession started.

New data suggests developers continue to struggle to build affordable properties amid rising costs for materials and labor.

Purchases of new homes drop in three of four U.S. regions, led by the biggest decline in the Midwest since 2012.

Revolving credit outstanding, which includes credit card debt, increases $2.57 billion in January after a $939 million gain.

Residential starts rise 18.6% to a 1.23 million annualized rate after a downwardly revised 1.04 million in February.