Daily Dose

Loans refinanced through the Home Affordable Refinance Program held steady for the second quarter of 2015. According to the Federal Housing Finance Agency's Refinance Report, the total number of loans refinanced through HARP in the second quarter was nearly the same as the number recorded in first quarter.

Pending home sales increased slightly in July for the sixth time in seven months, according to the National Association of Realtors. The Pending Home Sales Index increased 0.5 percent to 110.9 in July from an upwardly revised 110.4 in June.

Although the housing market was one of the main drivers of the crisis on the U.S. economy, the housing sector has made significant recovery and cities are beginning to find their footing in the market again.

While not as substantial as June's increase, Freddie Mac's total mortgage portfolio still expanded in July, this time at a compound annualized rate of 0.8 percent, according to Freddie Mac's July 2015 Monthly Volume Summary released on Wednesday.

Despite home price increases over the last three years, homes are still affordable by historical standards, according to the Urban Institute's Monthly Chartbook: Housing Finance At A Glance.

As the housing market strengthens, many economists believe that it could withstand an interest rate hike by the Federal Reserve this year, pending stabilization among home prices.

Multiple market indicators show solid strong stabilization within housing in June, mostly due to employment and current mortgages, according to Freddie Mac's Multi-Indicator Market Index. Housing markets are the strongest they have been since 2008, with the national MiMi surpassing 80 in June. Freddie Mac attributes most of this positive growth to a surge in jobs and mortgages that are kept current in nearly all metros.

As buyers reach their price limits and show less interest in homes, housing demand lowered for the fourth consecutive month. According to Redfin's Housing Demand Index, homebuyer activity fell 5 percentage points from 113 in June to 108 in July.

Fannie Mae's new research released Tuesday indicates that people living in single-family rental properties (a house, townhouse, or condo) may be more likely to buy a home than those living in apartments.

Fannie Mae is revamping its affordable loan program to offer creditworthy borrowers with low and moderate incomes the opportunity to obtain a mortgage, according to a Tuesday announcement.