Foreclosure data released Thursday offer a glimmer of hope for the U.S. housing market. But make that a qualified glimmer. Foreclosures slowed to their slowest pace in four years in February, but were still 6 percent higher than a year…

President Obama announced a new program Friday that redirects $1.5 billion from the $700 billion bank bailout fund to aid states hardest hit by the housing crisis. The federal aid will go to housing finance agencies in the five states…