Rates pushed higher, sellers kept listing, and the industry’s business news ran to lawsuits and leadership. Here are the eight stories that shaped the week.
Mortgage rates hit a 13-month high
The 30-year fixed rate climbed to 6.71% in Freddie Mac’s weekly survey, its highest reading in 13 months, as a global bond selloff pushed long-term yields up. We covered what drove the move and why the pressure came from overseas.
New listings reached a four-year high
Sellers are not waiting for cheaper money. New listings hit their highest level since 2022, handing buyers more choice and more negotiating room than they have had in this cycle. Our report on the inventory build and what it does to leverage at the table has the numbers.
Construction spending slipped again
Total construction spending fell to a $2.16 trillion annual rate in July in Census Bureau data, with single-family building down 3.2%. The residential weakness continued even as data center work carried the nonresidential side. We broke down where the spending went and where it did not.
Northwest MLS settled with Compass
Northwest MLS added a “First Look” listing option in Washington state, resolving Compass’s antitrust suit over pre-marketing rules. The settlement is being read closely by MLSs weighing their own coming-soon policies. Our coverage of the terms and what they signal for other markets is here.
Rocket named a new Redfin CEO
Rocket appointed Meta veteran Alessio Sanfilippo chief executive of Redfin, the clearest signal yet about how it intends to run the brokerage it acquired. We reported on the appointment and the product background behind it.
A CFPB overhaul bill landed
Legislation introduced this week would end the Consumer Financial Protection Bureau’s funding through the Federal Reserve and cut its daily penalty cap to $50,120. For mortgage lenders and servicers, the funding change is the structural one. See our breakdown of the bill’s provisions.
Student housing drew a $400 million-plus portfolio trade
Scion and Ares bought four student housing communities totaling 2,316 beds for more than $400 million, one of the larger sector deals of the year. Details are in our story on the acquisition.
Two tech housing markets split apart
San Francisco prices rose 6% while Seattle slid 3.6%, a nine-point gap between two metros that usually move together. We looked at how concentrated AI wealth pulled them in opposite directions.
What carried through the week
The through-line was supply meeting resistance on the demand side. Listings kept coming, rates went the wrong way for buyers, and single-family construction spending kept falling β three data points that describe the same standoff from different angles. Full coverage sits on our Housing Market and Mortgage pages.
