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Contract closings decreased 3.4% last month to an annualized pace of 4.28 million, according to data released Thursday by the National Association of Realtors.

Excluding farms and residential properties, banks accounted for more than 60% of the $3.6 trillion in commercial real estate loans outstanding in the fourth quarter of 2022, with smaller institutions particularly exposed, according to the Federal Reserve's semi-annual Financial Stability Report published last week.

Despite the "wow" factor, programs like ChatGPT are not, by themselves, the right tool for anything in the home loan space, argues the Director of Research at FormFree and Associate Director of the Institute for Artificial Intelligence at The University of Georgia.

During a Tuesday hearing, lawmakers talked through how to properly regulate the wide-ranging uses of AI. Some voiced support for forming a new AI agency.

After dropping to a low of more than 40% last year, the recent rally in homebuilders represents a massive rebound from last June's slump and a testament to what appears to be a gradual recovery in home construction. 

Former First Republic CEO Michael Roffler, in his first public comments since the failure of the bank, said changes to deposit insurance would be worthwhile for Congress to consider.

Both Flagstar and Deephaven tout the practice of sharing their market expertise with the mortgage brokers and bankers doing business with them.

As part of its receivership of Signature Bank, the agency was given the stock to sell by June 8.

The 30-year conforming rate surged to its highest point since March, driving borrower activity downward, the Mortgage Bankers Association said.

Beginning home construction rose 2.2% to a 1.4 million annualized rate, according to government data released Wednesday.