Senate housing legislation likely delayed until 2026

Home prices increased 1.5% in June compared to the same month a year ago, up from a 1.2% rise the previous month, according to the S&P Cotality Case-Shiller Index.

The July reading of new home sales reflects affordability challenges, with mortgage rates reaching 6.66% at the end of July.

Federal housing and banking regulators are rescinding 2022 guidance on special-purpose credit programs, saying the document conflicts with fair lending law.

The rate for a 30-year fixed-rate mortgage was 6.65% this week. The rate for a 15-year fixed-rate mortgage was 5.95%.

Pending home sales in July decreased by 2.3% month-over-month and 2.2% year-over-year, according to the National Association of Realtors.

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1.239 million, which was 12.4% below the revised June estimate and 13.5% below the July 2025 rate.