The housing market made significant strides in some categories in the past couple of months, which may be significant news for those in the title insurance industry. Further interest in the market could help improve the bottom lines of many industry members.

Total housing starts reached a rate of 1.09 million in July, 15.7 percent higher than June's level of 945,000 units, according to a report from the Department of Commerce. When compared to the same point one year ago, the level rose 21.7 percent, as last July's figure was 898,000 units. When separating single-family properties, the figure was 656,000 units, 8.3 percent higher than June's level of 606,000 units.

"A return to production levels over one million confirms that consumer confidence continues to improve," said Kevin Kelly, chairman of the NAHB and a home builder and developer from Wilmington, Delaware. "Propelled by a healthier economy, more and more people are feeling ready to buy a home."

The total level of building permits improved to a rate of 1.05 million units, 7.7 percent higher than the same month last year, when it was 977,000 units, the report noted. It also rose 8.1 percent from June's rate of 973,000 units. For just single-family properties, the level was 640,000 units, 0.9 percent higher than a month earlier, when it reached 634,000 units.

Mortgage rates remain at low levels
A major factor in the housing markets improvement may be the affordability related to mortgage rates. According to the Primary Mortgage Market Survey from Freddie Mac, the 30-year fixed-rate mortgage had an average of 4.12 percent during the week ending Aug. 14, 2014, slightly lower than the previous week's figure of 4.14 percent. Both levels remained lower than a year ago, as that average was 4.4 percent.

"Mortgage rates were down slightly amid a week of light economic reports," said Frank Nothaft, vice president and chief economist at Freddie Mac. "Of the few releases, retail sales were virtually unchanged in July after a 0.2 percent increase in June, ending five months of increases. Excluding motor vehicles and parts, retail sales were up 0.1 percent last month."

The 15-year FRM had an average of 3.24 percent in the latest reading, slightly less than a week earlier, when it was 3.27 percent, the report showed. One year ago, the average was 3.44 percent.