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An analysis of government data by the National Association of Home Builders revealed another issue that can be added to the list of economic changes caused by the housing slump: Rising student loan debt. Data shows that the onset of the housing crisis brought with it an increase in students taking out loans for higher education. Since the third quarter of 2008, student loan debt has increased by 47.9 percent ($293 million). This increase is attributed to the drop in the availability of home equity loans, according to the NAHB.

Demand for mortgages increased in May, according to a report released by Ellie Mae Wednesday. The Origination Insight Report for May 2012 showed that the average loan-to-value on closed loans jumped up above the 80 percent mark for the first time since the company began tracking in August 2011. Ellie Mae attributed the increase to an easing of LTVs on conventional refinances. The average LTV on conventional refinance in May was 72 percent, a slide up from April's 69 percent. Closed conventional refinances with LTVs of 95 percent or higher jumped up to 11 percent in May.

HomeStreet Bank is expanding its employer-assisted benefit options to a new region of Washington state. The community bank has announced the extension of its Hometown Home Loan Program to the Spokane area.

Potential homebuyers looking to capture the spirit of the swinging 60s still have a chance to snag a piece of history in Beverly Hills. The former home of Patty Duke remains on the market for $5.395 million, after having been originally listed in March of 2011 for $6.

Mortgage servicers received new guidance Thursday addressing protocol for dealing with military members who receive permanent change of station orders. The joint guidance was released by the Consumer Financial Protection Bureau in concert with the Federal Reserve, FDIC, National Credit Union Administration, and Office of the Comptroller of the Currency. About one-third of the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós military members receive non-negotiable permanent change of station orders each year, and the new servicer guidance is intended to ensure compliance with applicable consumer laws and regulations.

Existing home sales dropped to 4.55 million in May while the median price of an existing home rose to $182,600, the National Association of realtors reported Thursday. The decline in the seasonally adjusted annual rate of sales was the third in the last four months and steeper than expected. Despite the month-over-month decline, existing-home sales continue a steady, longer-term increase. Sales have averaged 4.574 million in the last five months, compared with 4.358 million in the previous five months and 4.274 million last year.

First time claims for unemployment insurance fell to 387,000 for the week ended June 16, from the prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós 389,000, (revised from the originally reported 387,000) the Labor Department reported Thursday. Economists had expected the report would show 3863,000 initial claims.

While the lights of the housing market continue to flicker, rental market activity has been a bright spot, said Freddie Mac's U.S. Economic and Housing Market Outlook for June. The enterprise├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós report, released Tuesday, showed that newly formed households seem more interested in renting over owning as the economy struggles to get back on its feet. Freddie Mac expects this trend to continue for the near future. Reis found a 2.8 percent gain in its markets during the same period, while Axiometrics reported a 4 percent rise in nominal rents.

Renters and first-time homebuyers want more amenities in their first homes and generally feel a sense of optimism that outpaces the reality in a slowly recovering housing market ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô a disconnect that could set the stage for the next housing crisis. Those are the findings that real estate company Trulia unveiled in an American Dream survey it released Wednesday. Of 86 markets in the 100 largest metro areas, 61 percent, or nearly two-thirds, of Americans believe that home prices will rise over the next year, according to the company.

With a lone dissent, the Federal Open Market Committee Wednesday voted no change in the target federal funds rate but agreed to expand its program to stimulate the economy by purchasing Treasury securities. The action is expected to keep mortgage rates at record lows. After the meeting, the FOMC released its quarterly forecast of the economy and interest rates with more members of the Committee seeing higher rates in 2014 than in the prior forecast. The FOMC said "growth in employment has slowed in recent months and the unemployment rate has declined but remains elevated."