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Purchase mortgage demand drops 13% year over year: MBA

AdobeStock_53691879 Mortgage demand keeps on falling. Mortgage applications dropped 5.2% for the week ending May 31 compared to the prior week, according to the Mortgage Bankers Association (MBA), results that include an adjustment for the Memorial Day holiday. On an unadjusted basis, the MBA’s market composite index decreased 16% compared with the prior week as

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Will AI replace mortgage jobs? Not exactly, execs say

Jaro and how AI is transforming the mortgage industry Top mortgage technology executives say their companies are embracing artificial intelligence (AI) in their operations but still relying on human decision-making to sell loans. And that’s not expected to change anytime soon. “There’s one question every CEO, CTO, CIO, loan officer, processor, underwriter, they all ask

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China Property Stocks Fall 20% From May High as Concerns Linger

A Bloomberg Intelligence gauge of Chinese developer shares fell 3.3% on Thursday, extending losses from a mid-May high to almost 21%. Sunac China Holdings Ltd. was the biggest laggard with a slump of 12%, while CIFI Holdings Group Co. sank 8.4%. Real estate stocks have retreated amid skepticism over a broad support package unveiled by

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3 Growth Stocks Wall Street Might Be Sleeping On, but I am Not

Most of the time, Wall Street gets it right. That is to say, the market usually knows what’s important to know about a company, and appropriately reflects this information in that stock’s price. These values, of course, can and do change every day. However, these changes mostly reflect new information or new perceptions regarding a

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Tech war: China chip industry event woos fewer exhibitors amid market headwinds, US export restrictions

A key semiconductor industry event in China attracted a smaller number of exhibitors this year, reflecting local market challenges and a desire to stay out of the limelight amid intensified US export restrictions. The sixth edition of the World Semiconductor Conference (WSC), which kicked off Wednesday in Nanjing, the capital of China’s eastern Jiangsu province,

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