A broad range of economic indicators paints a picture of an improving economy, according to the latest Conference Board Leading Economic Index (LEI) released Thursday. The LEI increased 0.6 percent in July, reaching 96 for the month. An index score of 100 reflects the economic conditions in 2004. "The improvement in the LEI, and pick up in the six-month growth rate, suggest better economic and job growth in the second half of 2013," said Ken Goldstein, a Conference Board economist.

Fannie Mae and Freddie Mac have both updated their seller guides to incorporate the Consumer Financial Protection Bureau's Ability to Repay rule under the Truth in Lending Act.

Recent increases in mortgage rates have CoreLogic asking the question, "Will rising rates lead to declining originations?" When it comes to purchases, CoreLogic economists say in a recent report, "Though mortgage interest rates have recently risen, CoreLogic does not expect any significant slowing in purchase origination volumes." In contrast, "[t]he greatest impact of increasing interest rates on the mortgage originations market will be felt on refinance volumes."

Freddie Mac found that among refinances in the second quarter, 79 percent of homeowners with adjustable-rate mortgages (ARMs) switched to fixed-rate loans.

While rising home prices across the nation may be good news as they imply recovering markets, the trend may dampen housing affordability.

Home inventories continue to decline in many markets across the country, but the pace of those declines appears to be slowing, which may in turn slow price appreciation in some markets, according to Realtor.com. National housing inventory declined 5.24 percent year-over-year in July, which is a slowdown from the 16.47 percent year-over-year decline reported in January. At the same time, the number of markets with declining inventory year-over-year decreased to 118 in July.

Realtor.com released its list of the second quarter's top "turnaround towns" in terms of market recovery, and California once again dominated the list. More notable, however, was the presence of Detroit, which--despite its recent bankruptcy--showed a strong performance. In fact, Detroit may soon be "one of the most balanced markets in the nation," according to Steve Berkowitz, CEO of Move, an online real estate network. The Motor City claimed the No. 7 spot after its inventory age fell to 45 days.

Even after witnessing the aftermath of the housing collapse and the crisis that followed, Americans still hold positive perceptions of ownership, according to a research study from Harvard's Joint Center for Housing Studies. Despite these initial findings, the Center says more research is necessary to determine both the perceived and actual non-financial benefits of homeownership after the housing crisis--especially given the government's commitment to homeownership for American families.

Wells Fargo is the largest servicer of commercial and multifamily mortgages by dollar volume as of the end of June, according to the Mortgage Bankers Association (MBA).

Following a speech Tuesday night in Phoenix, in which President Barack Obama discussed his ideas for housing finance reform, the president today took questions from American citizens during a live discussion hosted by Zillow CEO Spencer Rascoff. During the question and answer session Wednesday, Obama reiterated his stated goals to bring a gradual end to Fannie Mae and Freddie Mac, to bring private capital into the housing market, and to offer affordable housing options--both rental options and 30-year mortgages.