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August 6, 2026

Oct 6
2 min read

Fannie and Freddie’s New Condo Mortgage Rules Could Mean More Delays and Denials, Experts Say

Fannie Mae and Freddie Mac are rolling out a new set of rules aimed at making condos safer. But they come with some extra caveats that would-be condo owners ought to know.


This week, the Federal Housing Finance Agency enacted a set of rules announced in March that change insurance requirements for condominium buildings and communities. The new rules require more thorough reviews of a condo association's finances, as well as the building's condition.



Buying a Home Remains Out of Reach With Average Prices Over $1M

NBC San Diego

Homeownership remained out of reach for most households during the second quarter, despite housing affordability holding steady from the previous quarter, according to a report released Wednesday by the California Association of Realtors.

Statewide, housing affordability fell to 19% in the second quarter from a four-year high of 22% in the first quarter as mortgage rates climbed and home prices rebounded. The statewide median home price rose to $916,750, requiring a minimum annual income of $228,400.



U.S. Construction Spending Unexpectedly Falls in June

Sacramento Bee

U.S. construction spending unexpectedly fell in June as higher mortgage rates continued to weigh on homebuilding.


The Commerce Department's Census Bureau said on Monday that construction spending dipped 0.1%. Construction spending in May was revised to show it was unchanged instead of edging up 0.1%, as previously reported. Economists polled by Reuters had forecast construction spending would climb 0.2%.



JPMorgan Chase to Invest $750 Billion in Increasing the U.S. Housing Supply and Homeownership

CBS News

JPMorgan Chase said on Monday it will invest $750 billion through 2035 to boost the U.S. housing supply, including financing for 1 million affordable housing units and assisting 500,000 people in buying homes.


The investment is part of JPMorgan Chase's American Dream Initiative, announced in March to boost economic mobility at a time when many Americans say traditional financial milestones are slipping further out of reach. The investment represents a 40% increase in the bank's housing capital deployment compared to the previous 10 years, the company said in a statement.



Mortgage Rates Rise for 5th Straight Week, Hitting Levels Not Seen Since 2025 for 2nd Week in a Row

Associated Press

The average long-term U.S. mortgage rate rose for a fifth consecutive week to its highest level in just over a year, marking the latest strain for prospective homebuyers who are facing steep borrowing costs.


The benchmark 30-year fixed rate mortgage rate rose to 6.69%, mortgage buyer Freddie Mac said Thursday, up slightly from 6.66% reported last week. By comparison, the average rate was 6.63% at this time last year — and hadn’t been higher than its current level since late July in 2025.


 
 
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