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June 25, 2026

  • Jun 25
  • 3 min read

REALTORS® Deliver Major Victory: AB 736 Stopped

CALIFORNIA ASSOCIATION OF REALTORS®

Because thousands of California REALTORS® took action and made their voices heard, AB 736, a bill that would have incentivized cities to raise transfer taxes on property, particularly higher-value homes, will not move forward.


When the threat emerged, REALTORS® across California responded immediately. In just over 24 hours, more than 12,000 calls were made by REALTORS® to members of the Legislature, urging them to oppose the bill. That overwhelming response sent a clear message: increasing taxes on homeownership is not the answer.


This outcome is a powerful reminder that REALTOR® advocacy works. When REALTORS® engage, lawmakers listen. Your calls, emails, and outreach helped stop a proposal that would have made buying and selling a home more expensive for California families.


C.A.R. will continue to monitor AB 736 to ensure it remains inactive.


Thank you for standing up for homeowners, homebuyers, property rights, and taxpayers across California.




Congress Passes the Largest Housing Affordability Bill in Decades — and Trump Cancels the Signing

NPR

On Tuesday, legislators on both sides of the aisle clinched the final vote in the House to pass the largest piece of housing legislation in decades.


The bill, called the 21st Century Road to Housing Act, passed 358-32 in the House. The Senate approved it Monday with similarly overwhelming bipartisan support.


But that unity was threatened Wednesday morning when President Trump posted on social media that he was abruptly canceling a signing ceremony for the bill unless Congress passes a strict voter ID bill called the Save America Act.




Older Homeowners Hold Record Equity, but Rising Bills Could Leave Less for Their Heirs

Realtor.com

Older Americans are expected to pass down trillions in housing wealth, but new data shows that the rising costs of homeownership may be threatening that inheritance.


Homeowners aged 65 and older had the highest cost-burden rate of any age group in 2024, with 28% spending more than 30% of their income on housing and utilities, according to the Harvard Joint Center for Housing Studies’ State of the Nation’s Housing 2026 report.


It’s the hidden tension behind the roughly $19 trillion in equity held by baby boomers alone: A home can be worth hundreds of thousands of dollars even while its owner lacks the income needed to keep up with the bills that come with holding it.




Homeowners Tapped $47 billion in Equity in the First Quarter

CNBC

Homeowners tapped an estimated $47 billion in equity — the difference between their mortgage balance and the property’s market value — during the first three months of 2026, according to a new report from Intercontinental Exchange, a financial markets technology and data company.


Home equity lines of credit, or HELOCs, and home equity loans accounted for 54% of withdrawals in the quarter, and the remainder came from cash-out mortgage refinancing, the report shows. Nearly two-thirds of those second-lien borrowers have mortgages that were originated between 2020 and 2022, when average rates were in the 3% to 4% range.




Trump Administration Streamlines Mortgage Rules to Make FHA Loans Easier

Realtor.com

The U.S. Department of Housing and Urban Development is changing some rules around mortgages, aiming to make them easier for Americans to obtain.


HUD announced 14 changes to its Federal Housing Administration Single Family mortgage insurance program, all aimed at reducing some of the review requirements and approval processes.


The goal for these changes is to cut the requirements so consumers can apply more easily, and lenders don't face onerous rules.




Average 30-year US mortgage rate rises to 6.49%

ABC News

The average long-term U.S. mortgage rate edged higher this week, staying close to 6.5%, where it’s been the last six weeks.


The benchmark 30-year fixed rate mortgage rate rose to 6.49% from 6.47% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.77%.


When mortgage rates rise they can add hundreds of dollars a month in costs for borrowers, reducing their purchasing power.


 
 
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