COVERAGE INFORMATION:

California Department of Real Estate (DRE) NEWS CLIPS service coverage:

Monday through Friday (except state holidays) each week includes electronic format articles retrieved from newspapers or news services that report real estate related news in California and some national services. Coverage is for California newspapers that are available electronically via the Internet - and any significant related breaking news.

Thursday, August 27, 2026

Top Stories

Mortgage rates hit highest level in 3 weeks, weakening demand further

DIANA OLICK, CNBC
Mortgage interest rates moved even higher last week, causing demand for loans to weaken yet again. Total mortgage application volume dropped 1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications to refinance a home loan, which are most sensitive to weekly rate moves, fell 2% for the week. They were 17% lower than the same week one year ago, when rates were 9 basis points lower.

Small builders' rising costs pressure future home prices

SPENCER LEE, National Mortgage News
A majority of homebuilders are reporting a rise in material costs this summer, with smaller businesses likely to feel the impact of higher prices more significantly. The median increase for supplies used in building the same type of unit came in at 6.7%, according to the NAHB/Wells Fargo monthly housing market index. 

National News 

Buyers casting a wider net in search of their next home 

DAVE GALLAGHER, Real Estate News
In separate reports released this week, Realtor.com economists took different angles in assessing where buyers are shopping: One looked at the amount of time potential buyers are searching online for outside-their-market listings while the other evaluated who is buying newly built homes. Both reports signaled increased interest and activity from people seemingly open to leaving the metro areas where they currently live.

Out-of-Towners Are Flocking to New Construction: Here’s Where Demand Is Highest

SNEJANA FARBEROV, Realtor.com
Out-of-town home shoppers are driving the new-construction market, drawn by increasingly commonplace price incentives and larger properties—and budget-friendly Sun Belt hot spots are seeing the strongest pull.

California News

California Cities Are Evading State Mandates To Build More Housing, Lawsuits Claim

TRISTAN NAVERA, Realtor.com
Pro-housing groups have filed a set of lawsuits accusing three California cities of unfairly blocking more housing development near transit. The lawsuits from the nonprofit Californians for Homeownership accuse San Diego, San Francisco, and Montebello of putting up barriers that contravene Senate Bill 79, the state's law pushing dense residential development near transit.

Is this the worst time to buy a house in California? Why timing really is everything

TERRY CASTLEMAN, Los Angeles Times (Subscription)
It’s easy to look at today’s steep median home prices — $885,000 in L.A. County and $1.19 million in Orange County, per Zillow — and say it’s never been worse. But California has long dealt with cycles of soaring prices that lock out people with modest incomes.

Industry News 

Rocket Pro Urges Brokers To Go Hard On Home Equity

KATIE JENSEN, National Mortgage Professional
Rocket Mortgage Chief Revenue Officer and Rocket Pro leader Austin Niemiec came to Originator Connect 2026 with a clear message: “My advice to brokers is to go hard in building a business around home equity,” he said, pointing to the opportunity in the market and the brokers who have found success in it. With average credit card rates ranging from 21% to 23.8%, compared with roughly 8.10% for home equity loans, Niemiec argued that brokers should build a dedicated home equity pipeline rather than treat the product as a sideline

Here’s everything we know about Real REMAX Group

BROOKLEE HAN, HousignWire (Subscription)
The combined Real REMAX Group started trading Tuesday on Nasdaq under REAX following the closing of Real’s acquisition of REMAX Holdings. The deal included election based consideration with proration and authorized up to $450 million in share repurchases. 

Real Estate Technology 

Mortgage lenders weigh AI, alternative data and credit models

JOHN MCMANUS, HousingWire (Subscription)
Mortgage lenders have been hurtling toward a new credit scoring regime centered on FICO 10T, VantageScore 4.0 and a broader array of borrower data. But even as they push to modernize, digitally transform and become more efficient, they’re grappling with how far to go with it.

Property News 

California Gov. Gavin Newsom puts Sacramento-area mansion up for sale

NOE PADILLA, USA Today
As California Gov. Gavin Newsom is set to leave the state's highest office at the end of this term, he and his partner, Jennifer Newsom, have placed their Sacramento-based mansion on the market. The property is "an extraordinary showcase of Santa Barbara-inspired architecture," hidden behind a private gate and "exceptionally secluded."

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