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.
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Copyright © , California Department of Real Estate
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Friday, May 15, 2026
Top Stories
Mortgage rates are headed higher as the 10-year yield surges
LOGAN MOHTASHMI, HousingWire (Subscription)
Mortgage rates are headed higher as the bond market is taking the Iran conflict more seriously today and Fed rate hikes are now being priced in for the first time in a serious manner. The 10-year yield moved above 4.50% as markets price in rate hikes tied to inflation risks from the Iran conflict. Higher yields threaten the under 6.64% mortgage rate range that has supported housing demand.
U.S. Foreclosures Jump in April as Housing Pressures Mount
MICHAEL GERRITY, World Property Journal
U.S. foreclosure activity climbed sharply from a year earlier in April 2026, signaling mounting financial pressure on some homeowners as elevated mortgage rates and stubborn affordability constraints continue to weigh on household balance sheets.
National News
Commercial originations surge 52% amid lender “feeding frenzy”
MARY DIDUCH, The Real Deal (Subscription)
Commercial lending has staged a rebound, with competition heating up among those vying for the best places to deploy their capital. In the first quarter, commercial and multifamily mortgage loan originations climbed 52 percent year over year, the greatest annual growth since 2022, according to a report from the Mortgage Bankers Association.
Single-Family Permits Continue to Weaken in Early 2026
DANUSHKA NANAYAKKARA-SKILLINGTON, Eye on Housing
Residential construction permitting activity presented a mixed picture through the first quarter of 2026, as weakness in the single-family market contrasted with continued strength in multifamily development. Elevated financing costs, ongoing affordability challenges, and softer builder sentiment continued to weigh on single-family construction activity, while multifamily permitting remained supported by demand for rental housing.
California News
S.F. wants to stop housing projects from being blocked over shadows
J.K. DINEEN, San Francisco Chronicle (Subscription)
A San Francisco official wants to throw some shade on the city’s housing approval process. Supervisor Bilal Mahmood is preparing to introduce legislation next week aimed at speeding up housing approvals by eliminating shadow analysis as a grounds for appeal under the California Environmental Quality Act. San Francisco is the only major California city that allows residents to appeal housing projects based on the shadows it would cast.
Young adults own just 11% of Los Angeles-OC homes, a national low
AMANCAI BIRABEN, Orange County Register (Subscription)
Young adults aged 25 to 34 make up about 11% of homeowners in the Los Angeles metro area, the fewest for that demographic in the U.S., according to a new survey from ApartmentList. The May 12 study found that other California metropolitan areas are just slightly ahead, with San Francisco and San Jose at 14%, San Diego at 15%, Riverside at 19% and Sacramento at 23%. Instead of buying, the survey says, these younger adults are choosing to either rent for longer or live with family or friends.
Cash-out home loans on the rise for debt reduction, renovations
JEFF LAZERSON, Orange County Register (Subscription)
As homeowners sit comfortably on sizeable equity and low mortgage rates, many of them are turning their attention to renovations or paying down debt. Americans this year are projected to spend $518 billion on home renovations, according to the Joint Center for Housing Studies at Harvard University. At the same time, consumers also owe $1.25 trillion in credit card debt as of the first quarter of 2026, the New York Federal Reserve Bank says.
Industry News
Rocket Sues UWM, Alleging MSR ‘Clawback’ Campaign Violated Non-Solicitation Agreement
KATIE JENSEN, National Mortgage Professional
The complaint, filed in New York Supreme Court’s Commercial Division, alleges UWM sold Mr. Cooper the servicing rights to 182,000 loans with approximately $65 billion in unpaid principal balance, then later used refinance incentives, broker outreach, and AI-powered technology to solicit borrowers from those same loan pools.
Real Estate Technology
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Property News
The next frontier in data center real estate? Space
HOLDEN WALTER-WARNER, The Real Deal (Subscription)
Elon Musk plans to go where no data center has gone before: space. Musk’s SpaceX and Google are discussing a rocket launch deal that could serve both companies as they seek to put data centers into orbit, the Wall Street Journal reported. Google is also negotiating with other rocket launch companies.
In Case You Missed It
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