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August 20, 2026

Oct 6
2 min read

Program On California Ballot Could Cut Home Down Payments To 3%

Yahoo! News

California home prices are so high that households in many regions can't even afford a down payment. A proposal going to the state's voters in November would help, proponents say.


Proposition 37, embedded deep in the laundry list of potential policies that Californians will vote on later this year, would allow the state to loan middle-income residents up to 17% of the purchase price of a newly constructed home. Combined with a traditional mortgage, the loan could allow homebuyers to put down as little as 3% on their new home.



California Home Sales Pull Back in July as Median Price Slips Below $900,000

Realty Wire

California home sales pulled back in July and the statewide median price slipped below $900,000 for the first time in four months, as mortgage rates that briefly touched a 12-month high weighed on the nation’s largest housing market, the California Association of Realtors reported.


Statewide sales fell to a seasonally adjusted annualized rate of 263,170 homes in July, down 6.0% from June but still up 1.1% from a year earlier, according to C.A.R.’s July 2026 sales and price report.



The Nationwide Home Insurance Crisis Is About Far More Than Monthly Premiums Skyrocketing

Homeowners have gotten used to hearing bad news about insurance premiums. But a new nationwide analysis suggests rising prices are only part of the problem.


A first-of-its-kind report from the National Association of Insurance Commissioners (NAIC) found that insurer-initiated nonrenewal rates increased between 96% and 216% from 2018 to 2024, depending on the region. In 2024 alone, insurers initiated more than 2 million nonrenewals nationwide.



Affordable Housing Concerns Unite Older Americans Across Party Lines

AARP

Housing affordability is a pressing concern for Americans 50 and older. Nearly 9 in 10 (87%) say the lack of affordable housing nationwide is a significant problem, including a majority who view it as a very significant problem. Concern is equally strong closer to home: 86% say housing costs in their community are too high, with half (51%) saying they are much too high.


Importantly, these concerns cross political lines. Large majorities of Republicans (83%), Democrats (95%), and Independents (76%) agree that the shortage of affordable housing is a significant problem.



Weekly Mortgage Demand Stalls Along With Interest Rates, But Rates Are Now Moving Higher Again

CNBC

Mortgage rates didn’t budge last week, leaving little incentive for either homebuyers or current homeowners to call their lenders.


Total mortgage application volume was essentially flat from the previous week, down 0.4%, according to the Mortgage Bankers Association’s seasonally adjusted index.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, remained unchanged at 6.77%, with points decreasing to 0.65 from 0.67, including the origination fee, for loans with a 20% down payment.


 
 
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