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October 22, 2026

1 hour ago
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Three Ballot Measures on Housing, Medical Research but Only Prop 37 a No-Brainer

Los Angeles Times


Three state bond measures are on California’s November ballot. Prop 37 is a no-brainer “yes.” It would help middle-class Californians buy a new home by allowing them to borrow most of the down payment. And it wouldn’t cost taxpayers a dime.


Middle-income people could pay 3% down on their home purchases rather than the normal 20%. They’d borrow the other 17% as a second mortgage and repay it along with the first mortgage.



California Home Sales Fall Amid Mortgage Rate Spike

Mortgage Professional


California’s housing market posted its sharpest annual sales decline in recent months, with existing single-family home transactions falling 6.5% year over year to a seasonally adjusted annualized rate of 260,410 units in September, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.


The September total also fell 3.4% from August’s 269,620 units as surging borrowing costs and a persistently constrained affordability environment continued to sideline buyers across the state.



Americans Are Struggling to Buy Homes Amid Rising Costs

ABC News


There has never been a worse month for pending home sales nationally than September 2026.

Data released Tuesday shows the housing market weakening sharply, squeezed by rising mortgage rates and elevated home prices.


Pending home sales fell 7.3% in September from the previous month, according to the National Association of REALTORS® (NAR). It was the lowest reading in the history of the Pending Home Sales Index, which began in 2001.



Home Improvement Projects Cost 76% More Than They Did a Decade Ago

Realtor.com


The typical home improvement project costs three-quarters more than it did 10 years ago, according to a new report from Lending Tree.


The median cost of a home improvement project rose from $1,200 in 2015 to an inflation-adjusted $2,113 in 2025 – a shocking 76% increase.


The largest year-over-year jump happened between 2021 and 2023, when costs rose 22.2%.



Average Long-Term U.S. Mortgage Rate Eases to 7.32% in First Pullback Since Late August

Associated Press


Mortgage rates fell this week for the first time since late August, easing some of the pressure on prospective homebuyers facing higher borrowing costs on home loans.


The benchmark 30-year fixed-rate mortgage dropped to 7.32% from 7.40% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.19%.


 
 
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