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July 30, 2026

Oct 6
2 min read

A Divided Federal Reserve Holds Interest Rates Steady Despite High Inflation

NPR

The Federal Reserve held its benchmark interest rate steady Wednesday, but left the door open to raising rates in the future if inflation remains elevated.

The central bank's rate-setting committee voted 9 to 3 to leave its short-term borrowing rate in a range between 3.5 and 3.75%. The decision affects the cost of credit throughout the economy, including auto loans, business financing and credit cards.



Housing Costs Is the Top Political Issue for Young Voters

CNBC

The cost of housing is the top political issue — ranked higher than the cost of food or protecting democracy — among U.S. voters between 18- and 34-years-old, a CNBC survey found.


CNBC’s All-America Economic Survey for the second quarter of 2026, which polled 1,000 registered voters across the country, found the cost of housing is a salient issue, particularly among the kinds of young voters that both parties are hoping to court heading into the 2026 midterm elections.



Case-Shiller Home Price Index: Home Prices Rise, but Underlying Momentum Continues to Cool

The S&P Cotality Case-Shiller Home Price Index showed national home price growth edging higher through May, with the U.S. National Index rising 1.1% year over year, up from a revised 0.9% in April. The 10-City Composite posted a 2.4% annual gain while the 20-City Composite rose 1.6%. This month’s release reflects sales closing from March through May, a period when mortgage rates climbed back above 6.3% after briefly touching below 6% in late February, then continued higher through April before steadying. The headline gain, however, overstates some of the underlying strength. After seasonal adjustment, the National Index declined 0.05% month-over-month, a reminder that spring’s nominal gains owe more to seasonal patterns than to improving fundamentals. Additionally, with May’s CPI running at 4.2%, the gap between home price gains and inflation has stretched to nearly 3 percentage points, extending the streak of negative real home price returns to 12 consecutive months.



America’s New Home Sales Plummet to Weakest Rate in Years

Newsweek

New home sales have plunged to their weakest year-to-date pace in nearly a decade, according to the latest Census Bureau data, as dwindling housing demand fails to unblock a growing inventory glut despite longstanding shortages in parts of the country.

Sales of new homes were up by a modest 1.6 percent in June compared to a month earlier, at a seasonally adjusted annual rate of 628,000, as buyers got a small boost in affordability due to slipping median prices. But sales were 5.6 percent below their pace in June 2025 and, through the first half of 2026, U.S. homebuilders have sold fewer new homes than in any comparable stretch since 2017, Zillow reported.



Average 30-Year US Mortgage Rate Rises to Highest Level in a Year at 6.66%

Associated Press

The average long-term U.S. mortgage rate rose for the fourth consecutive week to its highest level in a year, another setback for prospective homebuyers hoping for a break from elevated home loan borrowing costs.

The benchmark 30-year fixed rate mortgage rate rose to 6.66% from 6.58% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.72%.


 
 
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