No Broker, No Bank, No Problem: How AI Could Turn Mortgages Into a Self-Service Experience
Artificial intelligence seemed more like science fiction than reality to many people just a few years ago. Now, it is everywhere, and soon, it could be making decisions on whether you qualify for a mortgage. "We're really most of the way there already," says Noah Kenney, founder and principal consultant at Digital 520, a strategic technology advisory. "Rocket Mortgage and Better will approve you in eight minutes now."
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Mortgage rates climb to highest level in 9 months
Turmoil in the bond market, fueled by the war with Iran, is sending US mortgage rates higher and threatening to make buying a home even more expensive. The average 30-year fixed-rate mortgage rose to 6.51% this week, reaching the highest level since August of last year, according to Freddie Mac. It was the sharpest weekly increase in mortgage rates since April 2025, when the bond market suffered similar stress after President Donald Trump first announced his plans for sweeping, historic tariff increases on nearly all countries.
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Modified COPA nears passage despite real estate pushback
A controversial City Council housing bill that once sent the real estate industry into a panic is back in play: the Community Opportunity to Purchase Act. The proposal, better known as COPA, was dead for a time after former mayor Eric Adams vetoed the bill and the Council lacked the votes to override it. But Council member Sandy Nurse has introduced a new version of the legislation, which would give nonprofits or joint ventures certified by the city first dibs at buying certain distressed multifamily buildings when they go for sale.
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New York's Office of Deed Theft Prevention is one step toward justice for Black families
Charrington and her supporters say her family home was sold without her father's approval. 227 Group LLC, which city records list as the current owner, denies their accusation, saying that the sale and eviction were lawful. Two days after the chaos outside Charrington's home, Mayor Zohran Mamdani announced the creation of New York City's first Office of Deed Theft Prevention, appointing veteran housing attorney Peter White as its director. "The theft of a home is the theft of a family's future," Mamdani said in a press release. "Deed theft preys on the New Yorkers who can least afford it."
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Judge grants Zillow's request to reinstate MRED listing feeds
In the legal back and forth between Zillow, Midwest Real Estate Data (MRED) and Compass, all sides are claiming a partial victory following a judge's ruling Friday afternoon. After MRED cut listing data feeds to the search giant on May 20, Zillow filed a motion asking an Illinois District Court for a temporary restraining order (TRO) to "immediately reinstate" the portal's access to the feeds and prevent the MLS and Compass from furthering their alleged "group boycott conspiracy" against Zillow.
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