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The average price of a single-family home increased 1.7% from last year to $426,800 in the third quarter.

Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.

New guidelines should provide homeownership opportunities for certain consumer segments with thin credit files and open up product options, lenders said.

A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments. 

Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.

The 30-year fixed-rate mortgage rose five basis points from last week to 6.22%, while the 15-year rate increased nine basis points to 5.50%

UWM Holdings set a single-day record for rate locks in September at $4.8 billion, taking advantage of the window of opportunity leading up to the FOMC meeting.

The Federal Reserve Board finalized changes to its supervisory rating framework, allowing large bank holding companies to be considered "well managed," even with one deficient rating.

The company posted its best quarter for funded loan volume and shared other green shoots including greater margins on less reverse mortgage business.

In markets across the US, homebuilders sitting on unsold inventory are subsidizing mortgage rates so heavily they sometimes match the record lows last seen during the Covid-19 pandemic.

Industry professionals shared stories of homeowners looking to get out and investors pausing deals, while others cautioned a wait-and-see approach.

The Consumer Financial Protection Bureau is considering a proposal to reduce its oversight of auto finance lenders, saying the benefits of supervision may not justify the "increased compliance burdens."

The lender reported $33.3 million in net income in the third quarter this year, up from the second quarter and same period a year earlier.

Previously, Kim was a managing director in J.P. Morgan Chase & Co.'s strategic investments group, where she managed a diverse portfolio of fintech investments.

At its first investor day in a decade and a half, the nation's second-largest bank pegged its guidance for return on tangible common equity at a slightly higher level than what it reported last quarter. Not all investors were impressed.

The latest sale consists of close to 1,200 HECMs secured by vacant residential units found in 46 states, according to data provided by the government agency.

What makes the situation alarming is the government attack on the fair lending enforcement infrastructure, said Lisa Rice of the National Fair Housing Alliance.

Private-sector payrolls increased by 42,000 after a revised 29,000 decline a month earlier, according to ADP Research data released Wednesday.

Treasuries fell after the US government signaled that larger auction sizes are on the horizon, while signs of economic resilience hurt the odds a Federal Reserve interest-rate cut in December.

Built launched Draw Agent Tuesday, which can process thousands of construction loan draws monthly.