The average long-term U.S. mortgage rate rose this week above 7% for the first time since January 2025, the latest affordability setback for prospective homebuyers following a five-week run of rate increases.
L.A. City Council approved $466.6 million in affordable housing funding on Tuesday. It'll go toward developers, nonprofits and land trusts developing housing projects.
Mortgage rates climbed for the fourth week in a row, driving the average long-term U.S. home loan rate to just below 7%, its highest level in more than 19 months.
Broadcom paid its former landlord, PRP Real Assets, $325 million for the 660,000-square-foot research campus in one of the largest office sales in Southern California in recent years.
Taco Bell and Habit Burger & Grill will move their joint headquarters to a larger campus in Irvine after spending more than 15 years near the Irvine Spectrum Center.
Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices.
