The National Association of Realtors says sales of previously owned homes declined more than 4% in November.
According to a Zillow analysis, U.S. home values have recovered about 44% of the value lost since 2007.
The Federal Reserve has finally begun to taper bond purchases but outgoing Chairman Ben Bernanke cautioned that monetary policy remained highly accommodative.
The Census Bureau releases long-awaited housing data for September, October and November.
KBW analysts expect mortgage origination volumes to fall to $1.15 trillion on the back of a drop-off in refinance activity.
The National Association of Homebuilders/Wells Fargo Sentiment Index rose more than expected
As many as 6.4 million borrowers remained underwater in the third quarter, according to the latest report from CoreLogic.
Under the plan being contemplated, the statutory maximum loan limit for one-unit properties would drop to $400,000 from $417,000.
At a recent Goldman Sachs conference, banks were universally positive about the impact of a Federal Reserve move to taper bond purchases, even though the real upside would come from an increase in short-term rates.
An independent actuarial review released Friday showed a substantial decline in the projected deficit at the agency, thanks to steps taken to increase premiums and tighten underwriting standards.