Morning Roundup (5/7/2024) — AI Advances

Good Morning! Today is Tuesday, May 7. The Israeli military took control of the Gaza side of a key crossing into Egypt as negotiations for a truce and hostage release intensified. Vladimir Putin was sworn in for another term as Russia’s president. Adult film actress Stormy Daniels took the witness stand Tuesday in the unprecedented criminal trial of former President Donald Trump.

The Mortgage Note Reports

AI Driven: As Rocket Companies makes advances in AI, leaders there announced they hired Shawn Malhotra as their first group chief technology officer.

I In Team: Writer Jared Whitley says the latest allegations against United Wholesale Mortgage show CEO Mat Ishbia talks about creating teamwork, and then plays a different game.

In other mortgage and housing news…

Crystal Ball: Will mortgage rates drop this year, and if so, by how much?

Not Budging: It’s likely home prices will not drop even if mortgage rates stay high.

Portable Mortgages: If people could take their mortgages with them when they move, it could help thaw out the frozen housing market.

Tournament Time: Tickets are now on sale for the Rocket Mortgage Classic in Detroit, held June 25 to 30.

Rental Market: Austin is ranked as the top rental market for college grads, while rents in New York City grew seven times faster than wages since 2019.