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News
Housing market struggles in July as factory output sees gains
6+ day, 12+ hour ago (181+ words) The San Joaquin Valley Sun Housing market struggles in July as factory output sees gains U.S. single-family homebuilding fell to its lowest level in more than three-and-a-half years in July, dropping 9.9% from the previous month and 15.7% year-on-year. Contract signings for existing…...
Existing home sales decline again
1+ week, 6+ day ago (109+ words) US existing home sales fell for a second straight month in July 2026, driven by higher mortgage rates and sustained house price increases due to tight supply. Elevated mortgage rates are discouraging both potential buyers and current homeowners from moving, further…...
Construction spending drops unexpectedly in June
3+ week, 18+ hour ago (146+ words) The San Joaquin Valley Sun Construction spending drops unexpectedly in June US construction spending fell by 0.1% in June, contrary to economists’ forecasts of a 0.2% increase. This marks a 3.2% year-over-year drop in construction spending. By the numbers: Private construction outlays decreased 0.1%; residential construction…...
Mortgage rates climb to highest point in a year
3+ week, 4+ day ago (204+ words) The San Joaquin Valley Sun Mortgage rates climb to highest point in a year The average 30-year fixed US mortgage rate rose for the fourth straight week to 6.66%, its highest level in a year, according to Freddie Mac. The big…...
Home sales rebound in June, but affordability still a major hurdle
1+ mon, 15+ hour ago (207+ words) The San Joaquin Valley Sun Home sales rebound in June, but affordability still a major hurdle New US single-family home sales increased by 1.6% in June, ending a two-month decline, reaching a seasonally adjusted annualized rate of 628,000 units. Despite the monthly…...
Legislation calls for action to ensure fair mortgage practices
1+ mon, 3+ day ago (407+ words) The San Joaquin Valley Sun Legislation calls for action to ensure fair mortgage practices Banks, credit unions and mortgage lenders in California would have to allow state officials to examine their records to ensure that mortgage lending practices aren’t discriminatory,…...
Home sales drop unexpectedly in June as prices hit record high
1+ mon, 2+ week ago (235+ words) The San Joaquin Valley Sun Home sales drop unexpectedly in June as prices hit record high U.S. existing home sales fell 2.4% in June to a seasonally adjusted annual rate of 4.09 million units, contrary to economists’ expectations of an increase. The decrease…...
Mortgage rates drop to lowest level since May
1+ mon, 3+ week ago (224+ words) The San Joaquin Valley Sun Mortgage rates drop to lowest level since May Mortgage rates have dropped to their lowest point since May, with the average 30-year fixed rate now at 6.43%, down from last week’s 6.49%, according to Freddie Mac. The…...
Construction spending rises slightly as homebuilding lags
1+ mon, 3+ week ago (166+ words) The San Joaquin Valley Sun Construction spending rises slightly as homebuilding lags U.S. construction spending increased by 0.1% in May, following a downwardly revised 0.3% gain in April, according to the Commerce Department. By the numbers: Spending remains weak compared to last year,…...
Mortgage rate hits nine-month high, further dampening home affordability
2+ mon, 4+ week ago (155+ words) The average 30-year fixed-rate mortgage in the U.S. rose to 6.65% for the week ending May 22, reaching its highest point in nine months, according to the Mortgage Bankers Association. The rate increase is linked to persistent inflation pressures – driven initially by high…...