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Borrowers still sought opportunities in the homebuilder market with activity trending upward for over a year, even as existing inventory showed signs of expanding.

President Joe Biden also nominated fellow Commodity Futures Trade Commission board member Kristin Johnson to a top bank regulatory post at the Treasury Department.

Markets appeared to welcome signs of future rate relief, with the latest Freddie Mac average falling for the fifth time in six weeks.

But despite increasing anxiety over rising costs, an overall majority of consumers also express optimism about their own improving financial prospects in the upcoming year, according to Transunion.

The Federal Reserve held firm on its current interest rate levels after its latest meeting, but inflation numbers are leading to talk of potential action in third and fourth quarters.

Homeowners responded to moderating interest rates and brought in significantly more refinance volume, with Department of Veterans Affairs numbers more than doubling from the prior week.

The department will continue to monitor developments from a recent court settlement as it considers future rulemaking.

Amid industry challenges, borrow a page from the playbooks of these industry leaders as they strategize around new roadblocks and look for fresh opportunities.

A Fannie Mae survey-high 86% of prospective buyers said it was a bad time to buy a home in May.

The Massachusetts House passed a bill that would ease the process for property owners looking to build accessory-dwelling units.

Both purchases and refinances dipped as rates failed to help borrowers, but government lending picked up a rising share of loan volume, the Mortgage Bankers Association said.

Forty-four percent of respondents said they expect Trump to seek to to politicize the central bank or limit its power if he returns to the White House. Overall, they put a probability of 40% on the Fed losing its autonomy under a second Trump administration. 

The announcement comes after weeks of criticism from the bureau's director over fees including title insurance and credit scores.

The retail giant has scrapped its credit card partnership with Capital One, its second public spat in recent years with a partner bank. Analysts say it may be a sign that Walmart wants to launch its own credit card on what it hopes will be a financial super-app.

The Federal Deposit Insurance Corp.'s Quarterly Banking Profile for Q1 showed that banks' net income margins got a boost, but FDIC Chair Martin Gruenberg said concerns around inflation, interest rate volatility and geopolitical uncertainty could mean tougher quarters ahead.

Beth Hammack, who stepped down as the bank's co-head of global finance earlier this year, will take the helm as President of the Federal Reserve Bank of Cleveland later this summer following the retirement of longtime President Loretta Mester.

An uptick in interest rates kept borrowers on the sidelines, as both purchases and refinances dropped, the Mortgage Bankers Association said.

Despite a recent warning about an uptick in prepays, FHA seems to be leaning in the direction of adopting changes that will increase them, writes the chairman of Whalen Global Advisors.

House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg to make himself available for a June 12 hearing on the agency's workplace culture.

Executives at the Toronto-based bank said last year that they planned to add 150 branches in the United States. But when pressed on Thursday, they could not say how much they'll scale back their ambitions due to investigations over TD's anti-money laundering practices.