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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Thursday, September 24, 2026
Top Stories
Nearly 10% of borrowers opted for riskier mortgages last week, as rates soared over 7%
DIANA OLICK, CNBC
Mortgage rates soared to the highest level since 2024 last week, causing loan demand to fall back again and more borrowers to opt for riskier loans. Total application volume decreased 1.5% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
National News
Average 30-year mortgage rates are now above 7%
LIEZEL ONCE, Mortgage Professional America
Mortgage applications fell 1.5% for the week ending September 18, as the 30-year fixed rate hit 7.12%, its highest point since May 2024.
Engaged Home Shoppers Rose 20% This Spring, a Sign of Pent-Up Demand
TREH MANHERTZ, Zillow Research
This year's home shopping season had no shortage of interest, but sales didn't fully reflect that. High-intent home shoppers outnumber listings 4.8 to 1, yet many of them remain sidelined by affordability pressures.
California News
California tenants suffered 8th-highest rent hikes in US over four decades
JONATHAN LANSNER, Orange County Register (Subscription)
The state had the nation’s highest median rent at $2,036 per month, 37% above the national median of $1,486. Over four decades, a typical California tenant averaged a 3.9% annual rent increase, the eighth-highest among states and just above the national 3.8% rate.
Costa Mesa approves Fairview Development Center project
ROGER VINCENT, The Los Angeles Times (Subscription)
The City Council last week approved a plan for 2,300 residences on the former hospital site known as the Fairview Developmental Center that would include 920 units designated as affordable for qualified low-income tenants.
Preserving mobilehome and RV parks while California builds denser housing
AMY PLATERO, firsttuesday Journal
A new law limits application of laws that promote dense transit-oriented housing by prohibiting construction on sites near transit stop zones governed by mobilehome or RV park regulations.
Industry News
Fannie Changes How Rent From A Former Home Counts
CZARINNA ANDRES, National Mortgage Professional
Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac
Real Estate Technology
Polly Pushes PPE Setup Into The Pre-Contract Stage
NATIONAL MORTGAGE PROFESSIONAL STAFF, National Mortgage Professional
Switching a mortgage lender's pricing engine isn't exactly a plug-and-play exercise. Polly says it has found a way to move much of that work earlier in the process — before a lender has even signed a contract.
Property News
Single-Family Detached Homes Still Dominate Among the 55+ Population
NA ZHAO, National Association of Home Builders
Adults ages 55 and older make up a large and growing share of the U.S. population and play an important role in the U.S. housing market.
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