Low mortgage rates and the bargains to be found in the vast inventory of distressed homes for sale are making this a buyer's market. In many areas it has become cheaper to own than to rent. Yet many potential buyers stand on the sidelines, scared off by difficulties in getting approved for mortgages and fearful of a double-dip in housing prices. One bright spot for buyers and those wanting to refinance is that jumbo loans are becoming easier to get.

Here are some of the housing and mortgage trends you should expect to see for summer 2011.