The D.C. Circuit Court of Appeals halted the Trump administration’s attempt to fire nearly two-thirds of the Consumer Financial Protection Bureau’s workforce, upholding a March 2025 injunction.

The industry association said total multifamily mortgage debt alone increased by $23 billion, or 1% in Q1, representing a $2.32 trillion increase from Q4 2025.

Anthropic’s head of banking told New York Banking Summit attendees that the future is agents that operate autonomously alongside employees.

Chair Travis Hill said SVB showed banks can’t always sell securities fast enough to cover deposit outflows, but acknowledged the “stigma problem” with discount window borrowing remains unsolved.

United Wholesale Mortgage allows the financing to be extended to borrowers with certain medical degrees with low down payments or potentially even none at all.

Economic uncertainty and higher rates in May contributed to the second decline in applications for new homes on an annual basis, reversing March gains

The merger will bolster existing safeguards against AI threats, while providing a tool that should appeal to young homebuyers, leaders of the companies said.

A potential end to the Iran War could lead to economic recovery, suggesting sub-6% rates may be far off as monetary policy discussions take a hawkish tone.

A potential deletion from a long-standing regulatory definition has banks questioning how to classify vast swaths of their lending books.

Perfectly Acceptable Conclusion to a Potentially Volatile Week

With markets closed for the Juneteenth holiday on Friday, Thursday marked the end of the trading week. Considering the sell-off on Wednesday afternoon, the week had the potential to end on an uncomfortably volatile note. Instead, bonds pushed back nicely in the other direction–even though MBS didn’t recoup as much of their losses as 10yr Treasuries. True, there is some sense of foreboding in the inability of 10yr yields to move below 4.42%, but all told, the week was actually surprisingly calm after factoring in Thursday’s gains.

Econ Data / Events

Continued Claims (Jun)/06

1,810K vs 1800K f’cast, 1795K prev

Jobless Claims (Jun)/13

226K vs 225K f’cast, 229K prev

Philly Fed Business Index (Jun)

10.3 vs 10 f’cast, -0.4 prev

Philly Fed Prices Paid (Jun)

53.20 vs — f’cast, 47.90 prev

Market Movement Recap

08:55 AM Bonds recover much of post-Fed sell-ff overnight, but mostly in the long end. 2yr yields lost more ground. 10yr yields are down 5bps at 4.446.  MBS are up just under a quarter point.

10:24 AM MBS up 9 ticks (.28) and 10yr down 6.3bps at 4.434

03:02 PM MBS up 5 ticks (.16) and 10yr down 4.2bps at 4.454