Fellow Masters for those of you that are homeowners we finally got some good news that our most expensive asset may be making a comeback.

If you've been reading the news lately, you've heard of Obama's smoking hot mortagage refinancing initiatives.

No Extensive Underwriting Requirements

Even if you have less than perfect credit, you will still qualify.

Here are some key points of Obama's mortgage rules:

No appraisals
No extensive underwriter requirements
Mortgage must be current
Fannie Mae and Freddie Mac will waive fees

If you haven't done it yet, its time.  Record low rates, record low prices -- come on.

America's ratio of house prices to yearly rents is nearly restored to its prebubble average.

Second, when mortgage rates are taken into consideration, houses are the most affordable they have been in decades.

Buying a house right now get's the 1-2-shaba-doo.

Via SmartMoney.com -- REITs have taken a pummeling recently: As of Thursday, the MSCI U.S. REIT Index had declined 19% from its July 22 peak -- worse than the 14% drop for the Standard & Poor's 500-stock index.

That's an opportunity, says Kevin Beddell, manager of the JPMorgan U.S. Real Estate fund (SUSIX). "It's a Goldilocks situation, with low interest rates but also strong demand and tight supply," he says, "and we've had a nice correction, so now prices are attractive, too."

Keeping reading Masters for more of the tickers you should be checking out.

Wow, for once sales of existing homes in America beat the Street and increased 7.7%.  Its not moving the market today and the crappy news is that the median price of a previously owned home dropped 5.1% to $168,300 from $177,300 in August 2010.

However any positive is a huge win for our depressing housing sector, we'll take whatever we can get.

A glimmer of hope today for the U.S. Housing Market as home prices finally inched up, the first time since April. 

Fellow Masters, this outstanding news for homeowners and securities such as D.R. Horton, Inc. (NYSE:DHI), KB Home (NYSE:KBH).

Why not be early to the party or consider building a small position if these stocks are trading near their lows? 

Don't want to bet on individual home builders? Then take a gander at the SPDR S&P Homebuilders (ETF) (NYSE:XHB).

Just like when Kemp used to take it to the hole, Seattle and D.C. slam dunked all other U.S. cities when it comes to housing.

The Seattle and Washington D.C. were the only two out of 20 in a closely-watched report where home prices rose from February to March. The increases were very small, only 0.1% but its better than nothing.

Some startling figures from National Association of Realtors thanks to SmartMoney.com:

Of the buyers who purchased a property through a real estate agent, just 57% had buyer representation, according to a 2010 report by the National Association of Realtors. That's down from 62% in 2009 and 64% in 2006, before the housing bust.

Also, fewer buyers are first learning about the home they purchase from real estate agents: just 37% are reporting real estate agents as their first source of information on the home they purchased, down from 50% a decade ago, according to NAR.

Just like that, it was only a matter of time and now the Masters doubt we will ever see 30 year mortgage rates under 5% in our lifetime.  According to penny stocks Freddie and Fannie, the national average for a 30 year fixed loan hit 5.05% this week.

One benefit with this uptrend is that with rising rates more buyers will finally take action and get off the fence thinking it may cost them more to delay.

The Masters turn to InvestingAnswers.com as they tackle a question that many traders have been pondering -- is now the time to buy into real estate related stocks?

If you believe we have finally hit bottom in the U.S. Housing market, some plays to consider are the the iShares Dow Jones U.S. Home Construction Index Fund (NYSE:ITB) or the S&P Homebuilders ETF (NYSE:XHB), which mostly focuses on homebuilders, but also adds a few home furnishing and home improvement retailers into the mix. 

Forget the housing/building stocks, go with the ETFs.