Market Journal IQ: San Diego

Rates hit a fresh high. The 30-year fixed climbed to 6.71%, its highest since July 2025, as a global bond sell-off pushed the 10-year Treasury near 4.79% and the Fed signaled it isn't ruling out another hike (Freddie Mac; CNN, Sep 2026). Next flashpoint: the Fed's Sept 15 to 16 meeting. Meanwhile the national median still rose 2.0% year over year to $434,100, 37 straight months of gains (NAR, Jul 2026). Watch today's number in the rate strip above.

Insurance is the new deal-breaker. State Farm, California's largest home insurer, is renewing ~70,000 policies it had moved to drop, but many owners must now carry fire coverage through the state FAIR Plan, whose exposure has climbed to about $768B (June 2026); State Farm also won an emergency 17% homeowner rate hike, approved by the California Department of Insurance in 2025 (CDI; United Policyholders). Before you buy, price the insurance early, in more zip codes it now moves the math as much as the rate. (Statewide median: $887,680 in July, +0.3% YoY, C.A.R.)

County detached homes are selling fast on tight supply, about 3.0 months of inventory and a median 15 days on market, both down ~23 to 25% year over year, while the detached median held roughly flat at about $1,032,500 (−1.7%) (SDAR/CRMLS InfoSparks, Aug 2026). 📍 Downtown Escondido watch: the former Palomar hospital site is now Palomar Heights, 258 apartments + 162 townhomes (Greystar; ~510 units with senior housing in the full entitlement), largely built out in 2026. See the Escondido report → (City of Escondido; FOX 5)