HOUSING SNAPSHOT
1. Renting Still Leads in Some West Coast Markets, For Decades
The national six-year buying break-even point masks much longer timelines across California and Oregon. Zillow estimates buying may take 17.1 years to outpace renting in Los Angeles, 23.3 years in San Diego and 16.7 years in Portland.
According to Zillow Housing Research, its rent-versus-buy analysis compares ownership and rental costs across the 50 largest U.S. metropolitan areas.
Zillow’s June 4, 2026 analysis estimates that buying breaks even with renting in about six years nationally. The modeled timeline varies sharply by metro, from roughly four years in Columbus to more than 23 years in San Diego, while renting remains financially ahead over 30 years in San Francisco, San Jose and New Orleans.
- Zillow’s model places Sacramento at 13.8 years and Riverside at 10.5 years.
- San Francisco and San Jose remain financially behind renting throughout the modeled 30-year period.
- The analysis includes mortgage payments, property taxes, insurance, maintenance, closing costs, rent and renters insurance; potential tax benefits are excluded.
Why it matters: The findings reinforce that time horizon and local costs matter when comparing renting with buying. They do not predict an individual outcome: mortgage rate, down payment, financing terms, maintenance, taxes, insurance, investment assumptions and future home values can change the calculation.
Bottom line: Use metro-specific assumptions and a realistic expected stay, not a national average alone, when evaluating the rent-versus-buy decision.
FAIR LENDING UPDATE
2. CFPB Withdraws Immigration Status and Credit Decisions Statement
Federal agencies have withdrawn a 2023 joint statement that warned some creditor policies involving immigration or citizenship status could raise fair-lending concerns.
According to the CFPB Newsroom, the CFPB and Department of Justice withdrew their 2023 joint statement concerning noncitizen borrowers and fair lending.
The Consumer Financial Protection Bureau (CFPB) and the U.S. Department of Justice withdrew a 2023 joint statement about how immigration or citizenship status may be considered under the Equal Credit Opportunity Act (ECOA) and Regulation B.
- The agencies said ECOA and Regulation B permit creditors to consider pertinent creditworthiness information and information needed to protect repayment rights and remedies, including immigration or citizenship status in some circumstances.
- They said the withdrawal is intended to prevent conflict with the statutory and regulatory text and avoid confusion about compliance expectations.
- The agencies also cited concerns about unnecessary compliance burdens and interpretations of liability under 42 U.S.C. § 1981.
Why it matters: The announcement changes the status of the agencies’ 2023 joint statement, but it does not establish a universal lending rule or guarantee how any particular lender will evaluate an application. Policies may still vary, and other laws may apply.
Bottom line: Mortgage professionals should review current fair-lending procedures and rely on applicable law and current federal requirements when handling immigration-status information.
HOUSING SNAPSHOT
3. Foreclosure Filings Jump 21% as FHA and VA Stress Draws Attention
Foreclosure activity increased nationally in early 2026, with filings up 21% from the same period last year. The data points to rising distress, although activity remains below levels seen during the housing crisis.
HousingWire reports that ATTOM recorded 227,548 properties with foreclosure filings during the first half of 2026.
HousingWire reports on ATTOM’s Mid-Year 2026 U.S. Foreclosure Market Report, which tracks foreclosure filings, starts, auctions and completed repossessions.
- Foreclosure starts rose 18% year over year to 164,566 properties, while completed foreclosures increased 33% to 27,983.
- The average foreclosure timeline fell to 563 days in the second quarter, the shortest average reported since 2013.
- Florida had the highest state foreclosure rate. California ranked third in foreclosure starts by volume, with 16,040 starts, and recorded 2,644 completed foreclosures.
Why it matters: HousingWire’s report cites industry commentary identifying Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) servicing conditions as contributors to increased stress. These comments describe reported industry concerns, not a universal rule or outcome for every borrower.
Bottom line: Rising filings make early communication with a mortgage servicer especially important for borrowers experiencing payment difficulty.
This RGI Mortgage Brief is for general educational purposes only. Programs, pricing, terms, eligibility, and availability may change and remain subject to complete review and lender approval. This is not a commitment to lend.