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July 23, 2026

Oct 6
2 min read

Black and Hispanic Homeowners Pay Hundreds More in Insurance Premiums

U.S. News and World Report

Insurance companies charge significantly higher rates for homeowners insurance in predominantly Black and Hispanic neighborhoods compared to predominantly white ZIP codes, according to a new study by the Consumer Federation of America. For the same level of coverage, homeowners in Hispanic communities pay 30% more on average – around $950 per year. Meanwhile, those in Black communities pay a 16% higher premium, or about $500 more annually.


This racial disparity in home insurance premiums is not explained solely by local differences in the frequency of claims, severity of losses, environmental risks, house ages or housing density. After accounting for a range of such factors, the CFA report found that the racial premium gap persisted, with a 10% higher premium on average in Black neighborhoods and an 11% higher premium for Hispanic areas.



Purchase Demand Rises as Mortgage Rates Hit 11-Month High

Mortgage Professional

Total mortgage application volume climbed 1.9% in the week ending July 17, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey, as a rebound in purchase activity more than offset a retreat in refinancing.

The result reflects a buyer pool that has not fully stood down, even as borrowing costs hit their highest level since last summer.



Senior Housing Wealth Reaches Record Level in First Quarter

Housingwire

Housing wealth among homeowners age 62 and older rebounded to a record $14.92 trillion in the first quarter of 2026 after declining in the previous two quarters, according to the latest National Reverse Mortgage Lenders Association (NRMLA) – RiskSpan Reverse Mortgage Market Index.


The quarterly index, which has tracked senior home values and home equity trends since 2000, found that the increase was driven by rising home values and relatively modest growth in mortgage debt.


Senior housing wealth increased by an estimated $314.8 billion, or 1.8%, during the quarter. That gain was partially offset by a $10.5 billion, or 0.4%, increase in mortgage debt held by homeowners age 62 and older.



California Sues 5 Cities Over Failure to Comply With State Housing Law

KTLA News

California is suing five cities for repeatedly failing to plan for their share of housing, Gov. Gavin Newsom announced Thursday.


Attorney General Rob Bonta and the California Department of Housing and Community Development (HCD) filed actions against Calexico, Costa Mesa, Half Moon Bay, Ridgecrest and Turlock, accusing each of violating California’s Housing Element Law.

Under the law, every city and county must update its housing plan every eight years to meet its Regional Housing Needs Allocation, or its share of the regional and statewide housing needs, according to a news release from Bonta’s office.



Average 30-year U.S. Mortgage Rate Climbs to 6.58%, highest level in Nearly a Year

Associated Press

The average long-term U.S. mortgage rate climbed this week to its highest level in nearly 12 months, pushing up borrowing costs for prospective home buyers at a time when rising oil prices are already squeezing household budgets.

The benchmark 30-year fixed rate mortgage rate rose to 6.58% from 6.55% last week, mortgage buyer Freddie Mac reported. One year ago, the average rate was 6.74%.


 
 
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