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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Monday, May 4, 2026
Top Stories
Bond yields climb, raising prospect of renewed pressure on mortgage rates
FERGAL MCALINDEN, Mortgage Professional America
Bond yields ticked higher on Monday as investors weighed escalating tensions in the Middle East and awaited a closely watched US jobs report, a combination that could put fresh upward pressure on mortgage rates after their recent pullback. Ten-year US Treasury yields, a key driver of mortgage rates, had jumped to 4.436% at time of writing, up from 4.372% at the beginning of the day, signaling growing investor unease as the US-Iran war rumbled on with little sign of resolution.
A Federal Housing Handout Has Ended. Foreclosures Will Follow
CAROL RYAN, Wall Street Journal
Homeowners with a Federal Housing Administration mortgage who get into financial difficulty can apply for a subsidy, known as a partial claim, to clear any arrears on their mortgage. During the pandemic, the Department of Housing and Urban Development lifted limits on how many times borrowers could receive these partial claims. This can’t happen anymore after the Trump administration tightened the rules. Since last October, borrowers can only apply for one partial claim or loan modification every two years.
National News
Many homebuyers held back by financing misconceptions
DAVE GALLAGHER, Real Estate News
While many potential homebuyers are confident about their knowledge of the transaction process, a new survey suggests quite a few are holding onto misconceptions that could be holding them back. A March Veterans United Home Loans poll of 400 people who intend to buy a home within the next three years found that many believe the requirements to qualify for a mortgage are tougher than they actually are. This could delay — or even derail — the homebuying journey, according to Chris Birk, VP of mortgage insights at Veterans United.
Taxes on Second Homes Are Springing Up Across America
NICHOLAS G. MILLER, Wall Street Journal (Subscription)
State and local governments across the U.S. are seizing on a juicy new target for plugging budget holes and easing housing shortages: second homeowners. New York City is planning to tax pieds-à-terre worth $5 million or more. Rhode Island’s “Taylor Swift tax” will hit homes valued at over $1 million that are uninhabited for at least 183 days of the year. Nicknamed after the pop star who owns a waterfront mansion in Westerly, R.I., the measure is set to take effect in July. Meanwhile, courts are weighing proposals in Montana and San Francisco for extra levies on vacant homes.
California News
Contra Costa’s anti-sprawl boundary draws fire as housing pressures grow
SIERRA LOPEZ, San Jose Mercury News (Subscription)
Since 1990, a voter-approved boundary meant to prevent suburban sprawl and protect open space has been on the books. The goal has been to maintain a 65/35 land preservation standard, with only 35% of county land used for urban development. The initiative was reapproved in 2006, when voters extended the Urban Limit Line policy for another 20 years. Back on the ballot this June as Measure A, the county is seeking public support for extending the policy through 2051.
How Southern California churches are turning unused land into affordable housing
ANANCAI BIRABEN, Orange County Register (Subscription)
When Pastor Adiel DePano arrived at his latest clerical appointment at the Santa Ana United Methodist Church in 2017, its secondary worship site 5 miles away was a “biohazard,” with frequent fires at neglected buildings and syringes littering the grounds. DePano and his clergy debated selling the hazardous 1.74 acres for $5 million. After all, their own flock had been on the decline for years. But the growing trend of leasing church land to affordable housing developers won them over instead.
Industry News
What happens if the Real-REMAX deal doesn’t go through?
AJ LATRACE, Inman (Subscription)
When Real Brokerage and REMAX Holdings announced their $880 million merger this week, executives framed the deal as a transformational step toward building a global, technology-driven platform. But like any transaction of this size, the merger agreement spells out what happens if it doesn’t close.
Lenders are taking more repurchase demands to court
ANDREW MARTINEZ, National Mortgage News
In the past six months, several lenders and servicers have sued origination partners over repurchases, for funds experts say they may never recoup. Although the latest federal complaints are small in number, they're ticking up again after a small wave of the complaints arose in 2023 in the wake of the low-interest-rate era.
Real Estate Technology
First American Launches AI Tool To Analyze Title Documents, Targeting Closing Delays
National Mortgage Professional
First American Title Insurance Company is pushing further into AI-enabled workflow automation with the launch of a new document analysis capability designed for title agents. The company announced the introduction of AgentNet Assist Title Intelligence, an AI-powered feature embedded within its AgentNet platform that analyzes title documents and surfaces key information to support agent decision-making.
Property News
A rare experimental Eichler in the Bay Area lists for $4.5M
ANNA MARIE ERWERT, SFGate
With highest-level starchitect bling, the Eichler X-100 home has come to market. The “mid-century modern experimental” home at 1586 Lexington Ave. in the San Mateo Highlands is a one-of-a-kind time capsule, a love letter to the mid-century aesthetic, and almost as futuristic now as it was when it broke ground around 70 years ago. It’s on the market for $4.5 million.
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