Following a report from Truliathat foreign interest in U.S. housing is on the decline, Capital Economics reported foreign investment is peripheral to the housing market recovery.

With headlines announcing rapid gains in home prices--some even detailing double-digit gains--Moody's Analytics says "there is little wonder that many fear a new housing bubble is developing despite the hard lessons of the Great Recession." However, Celia Chen, senior director of economic research at Moody's, dispenses these fears in her article, "Popping Housing Bubble Fears," published in the firm's most recent report. Even if prices do decline, Chen says the result would be "less damaging to the broader economy" than the market burst in 2008.

Forty-five of the top 50 metropolitan markets will experience yearly price increases during the second half of the year, according to Clear Capital's Home Data Index Market Report.

Nationstar Mortgage announced it is revising losses on loans with principal forbearances acquired in 2012 from Aurora Bank FSB and Aurora Loan Services.

In concurrence with many industry analysts, real estate agents expect price gains to mellow in the near future, according to survey results released by Redfin. Eighty-six percent of agents believe prices will rise over the next few months. However, while a majority of agents expect price gains, a minority expect prices to "rise a lot." The percent of agents who anticipate prices rising "a lot" in coming months fell from 44 percent in the first quarter to just 16 percent in the second quarter, according to Redfin's survey.

Interest rates declined 0.15 percent in May, according to the Federal Housing Finance Agency (FHFA).

The Consumer Financial Protection Bureau (CFPB) announced Monday proposed revisions to its ability-to-repay rule, mortgage servicing rules, and rules regarding consumer protections. "Today's proposal revises and clarifies certain aspects of our rules to ease implementation and to pave the way for more effective consumer protections in the marketplace," said Richard Cordray, director of the CFPB. Monday's proposals also addressed the ban on financing credit insurance premiums.

Zillow expects prices will continue their upward trajectory in the short-run with a 4.1 percent increase over the following 12 months. However, as inventory increases and interest rates rise, "some demand may also ebb," said Stan Humphries, Zillow's chief economist. These predictions prompted the economist to advise, "Enjoy it while it lasts, because the housing market will undoubtedly look very different a few years down the road from how it appears now."

A plurality of prospective homebuyers responding to an industry survey anticipate down payments of less than 15 percent when they purchase a new home. Forty-four percent of respondents anticipate low down payments of no more than 15 percent, while 34 percent foresee paying between 15 and 24 percent of purchase price at closing. Nineteen percent say they will put down more than 25 percent of their home purchase price when the purchase their next home, according to the survey conducted on behalf of LendingTree.

Commercial and multifamily mortgage debt outstanding decreased for the first time in five quarters during the first quarter of this year, according to the Mortgage Bankers Association (MBA).