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September 17, 2026

19 hours ago
4 min read

Fed Raises Rates: What It Means for Your Credit Cards, Mortgages and Savings Accounts

CNBC


The Federal Reserve raised its benchmark interest rate at the conclusion of its September meeting after consumer prices rose again in August amid the war with Iran and despite continued pressure by President Donald Trump to bring rates down.


In an effort to tame inflation, the central bank’s Federal Open Market Committee, led by Chairman Kevin Warsh, raised the federal funds rate by one-quarter percentage point to a target range of 3.75% to 4.0%. The move is expected to ripple across the economy, with consequences for everything from credit cards to mortgage rates to savings accounts.



California Home Sales and Prices Rise in August Despite Higher Mortgage Rates, Housing Costs, C.A.R. Reports

Yahoo!


California's housing market finished the homebuying season on a positive note in August, with sales and prices posting gains from both the previous month and last year despite continued pressure from high mortgage rates and housing costs, the CALIFORNIA ASSOCIATION OF REALTORS® reported Wednesday.


Closed escrow sales of existing, single-family detached homes in California reached a seasonally adjusted annualized rate of 269,620 in August, according to data collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. August sales were up 2.4 percent from 263,320 in July and up 1.4 percent from 265,780 in August 2025.



L.A. County Launches Investigation into Farmers Insurance over Wildfire Claims

MSN


Los Angeles County announced Wednesday that it has launched an investigation into Farmers Insurance over its handling of Pacific Palisades and Eaton wildfire claims.


The probe is focusing on possible violations of California's Unfair Competition Law.


This comes after policyholders reported delays, refusal to pay for testing and remediation of lead and other contamination, underpayments and denials of wildfire claims, according to a county news release. Testing of standing homes revealed contamination, including unsafe levels of lead, asbestos, chromium and other toxic substances, according to the county.



Newsom Signs New Law to Clear Confusion Around Smoke-Damaged Homes

KQED


This week, Gov. Gavin Newsom signed a package of legislation into law that establishes the nation’s first enforceable standards for testing and fixing smoke-damaged homes.


The legislation comes in the wake of the widespread damage from the 2025 Palisades and Eaton Fires in Southern California.


More than a quarter of all insurance claims stemming from the fires were for smoke damage to homes that didn’t burn, according to estimates from the California Department of Insurance. Smoke-damaged homes can be polluted with lead, asbestos, benzene and other toxic substances.


Under the new law, the California Air Resources Board and the Department of Toxic Substances Control will develop standards for testing, remediating and restoring the lead and asbestos contamination that can come from wildfire smoke.



State Farm to Write New Insurance Policies in California for First Time Since 2023 – for Certain Homes

Yahoo!


State Farm General Insurance Co. plans to write its first new home insurance policies in California since 2023.


New policies will only be available to homes that meet wildfire safety standards set by the Insurance Institute for Business and Home Safety, a research nonprofit that offers a certification program for homes.



FHA Sets Jan. 1 Start for FICO 10T and VantageScore 4.0

National Mortgage Professional


Federal Housing Administration-approved lenders will be able to use FICO Score 10T and VantageScore 4.0 for mortgage underwriting beginning Jan. 1, 2027, according to separate announcements last week from the two credit-scoring companies.


The shared start date moves the FHA’s credit score overhaul from approval toward implementation while introducing direct competition between two models that use trended credit data. Neither announcement indicated that lenders would be required to adopt both models.



Get Ready for Yet Another Cost When Buying a Home: Junk Fees

NPR


Junk fees, which come with different names and explanations, such as document storage fees and administrative fees, have become an increasingly common part of the homebuying process.


These fees have been around for decades, but they are spreading, including now often being charged to both home buyers and sellers. Both are collectively paying nearly $2 billion in these fees a year, according to new research from the think tank Consumer Policy Center, which called that estimate conservative.


There's a scarcity of public data on exactly how far fees have spread. Though the Consumer Policy Center reports the fees appear to now be a part of most home sales and can be more than $1,000 extra due at closing.



Struggling U.S. Home Buyers Face New Hurdles as Mortgage Rates Brush 7%

Associated Press


The weekly average rate on a 30-year fixed-rate home loan has risen for four weeks in a row and this week climbed to just below 7% — its highest level in over 19 months.


The benchmark 30-year fixed-rate mortgage rose to 6.95% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.26%.


 
 
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