There is a possibility of more activity in the title insurance market, as some housing market conditions are stabilizing. This may encourage more individuals to consider taking out a mortgage, and starting the process of acquiring an existing property.

Adjustable-rate mortgages did not experience significant changes recently. According to the Primary Mortgage Market Survey from government-sponsored enterprise Freddie Mac, the five-year Treasury-indexed hybrid ARM averaged 2.98 percent during the week ending Aug. 7, 2014. One week earlier, it averaged 3.01 percent, while it was 3.19 percent one year ago.

For the one-year Treasury-indexed ARM, the level reached an average of 2.35 percent in the most recent measurement, slightly down from a week earlier, when it averaged 2.38 percent, the report explained. When looking at the level 12 months earlier, it was notably higher, with an average of 2.62 percent.

"Mortgage rates were little changed amid a week of light economic reports. Of the few releases, ISM non-manufacturing index rose to 58.7 in July from 56.0 a month earlier," said Frank Nothaft, vice president and chief economist at Freddie Mac. "Also, factory orders were up 1.1 percent in June. The two reports signal steady economic growth in the third quarter of the year."

Fixed-rate mortgages also did not experience significant change. The report showed that the 30-year FRM averaged 4.14 percent in the most recent measurement, nearly the same as the previous week's level of 4.12 percent. Both levels were not nearly as high as one year ago, when it was 4.4 percent.

The 15-year FRM posted a level of 3.27 percent during the week, slightly higher than the previous average of 3.23 percent, the report added. When looking 12 months earlier, the average reached 3.43 percent.

Credit becomes more available
With reasonable mortgage rate levels, many individuals may seek credit acquisitions in the coming months, and this actually may be easier than in the recent past. According to a report from the Mortgage Bankers Association, the overall level of mortgage credit availability improved to 116.4 during July, 0.5 percent higher than the previous month's level of 115.8.

The gain showed progress in the level of mortgage credit availability, the report added. Meanwhile, both levels were notably improved from the threshold of 100, noting that credit standards loosened both months. That benchmark occurred in March 2012.