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With its latest estimate, BEA said the overall picture of the economy was about the same as in the first report, with the biggest differences being in nonresidential fixed investment (which increased more than previously thought) and private inventory investment (which was up slightly less).

In Fannie Mae's July 2014 Monthly Summary released on August 29, the GSE reported that July's serious delinquency rate of 2.0 percent for single-family properties is at its lowest level since October 2008.

In accordance with the Housing and Economic Recovery Act of 2008, the Federal Housing Finance Agency (FHFA) announced on August 29 that it has proposed a rule to establish new housing goals for 2015 through 2017 for Fannie Mae and Freddie Mac.

Directed by Steven Frie, director of structured finance at Standard & Poor's Rating Services, the 2014 Five Star Conference Compliance Lab will feature a panel of experts tackling some of the most pressing issues of the day, speaking on topics ranging from the impact of the qualified mortgage (QM) and qualified residential mortgage (QRM) guidelines; how to balance state, local, and federal regulations; and the cost and consequences of compliance.

Adjustable rates also moved little, Freddie Mac reported. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent (0.5 point) for the week, up from 2.95 percent in the previous survey. The 1-year ARM averaged 2.39 percent (0.5 point), up barely from 2.38 percent before.

The key players from the housing and real estate industry will descend on Dallas, Texas, September 14-16 for the annual Five Star Conference and Expo.

Title insurance premium volume declined by 16.6 percent year-over-year for 2014's second quarter, according to recently released data from the American Land Title Association (ALTA).

Flagstar Bancorp, Inc. announced earlier this week that it has filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) in order to notify its investors that the bank is currently trying to work out a settlement with the Consumer Financial Protection Bureau (CFPB) regarding alleged violations of financial laws.

Though pending sales were down 2.1 percent compared to a year ago, July's figure was the highest since August 2013 and was the third straight month in which the index measured above 100, a value NAR considers to be an average level of contract activity.

The monthly index tracks housing market stability at the national, state, and metro level, using home purchase applications, payment-to-income ratios, employment, and proportion of on-time mortgage payments as measures of health. As of the June report, Freddie Mac rescaled the MiMi to make it easier to read, though the underlying data was left untouched.