Mortgage relief arrived for homebuyers heading into 2026 as mortgage rates fell to their lowest level of 2025, offering a modest but notable shift after a year of elevated borrowing costs.
New single-family home sales declined slightly in July, but still exceeded economist forecasts thanks to aggressive builder incentives and price reductions. The Commerce Department reported a seasonally adjusted annual rate of 652,000 units sold, down 0.6% from June and 8.2% year-over-year. Economists surveyed by Bloomberg had anticipated a slower pace of 630,000.
In a rare moment of honesty, the New York Times acknowledged this week that mass immigration causes housing prices to soar—a reality Americans have long known but the media has often denied. The admission came in a report covering protests in Mexico City, where locals are rebelling against rising rents and cultural disruption caused by a surge of foreign residents.
California Governor Gavin Newsom signed two bills on July 1 that roll back parts of the California Environmental Quality Act (CEQA), aiming to accelerate housing.
