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The high court's much-anticipated ruling gives federal courts — rather than executive agencies — the power to interpret ambiguous statutes. The decision is expected to facilitate an increase in litigation over banking regulations.

A landmark ruling by the Supreme Court's conservative majority means that defendants will have the right to a jury trial in cases where bank regulators are seeking civil penalties. The consequences for federal banking agencies are expected to be substantial.

The Consumer Federation of America and Consumer Reports sent a letter to the Consumer Financial Protection Bureau urging it to require banks to search for less discriminatory models. Later the same day, the CFPB issued a report saying it's doing just that.

The plan from the Heritage Foundation, a group the first Trump administration was largely in line with, would shutter CFPB, break up HUD and raise FHA premiums.

KBRA says there is notable borrower equity in the properties collateralizing the mortgages, which is reflected in the weighted average original loan-to-value ratio of 71.7%.

May's falling interest rates as well as ongoing wage growth helped improve home affordability across borrowing segments and racial groups, the Mortgage Bankers Association said.

It comes as investors begin to reshuffle their portfolios at the mid-year mark, while traders earlier this week embraced bets on 3 percentage points of cuts over the next nine months.

Last year, the CFPB referred 18 matters to the Department of Justice and initiated 28 fair lending examinations or targeted reviews, the highest number of such actions by the agency ever.

Borrowers in the government-purchase market returned to the table in greater numbers, as rates declined, the Mortgage Bankers Association said.

Local governments must use funds to address hurdles in zoning, financing and infrastructure to produce new units and preserve others.