FED raises rates, Mortgage rates UP, & new CA Propositions - October 2026

Zac Bacon breaks down the November 3 election, why he is a no on California Proposition 37, the Fed’s first rate hike in three years, and what September’s numbers mean for Placer County buyers and sellers. Top local agent breaks down the Nov 3 election, Prop 37, the Fed’s first rate hike in 3 years, and September numbers for Placer County buyers & sellers. Election & Prop 37 Prop 37 would let buyers borrow up to 17% of the purchase price toward the down payment (only 3% of their own money). California Housing Finance Agency could raise up to $25B from private investors (not taxpayers) if loans default. California Association of Realtors supports it, sadly I dont at this time. Concerns: more borrowed money chasing limited supply, buyers still pay interest, risk of higher prices (similar to 2020–21), and it doesn’t fix the core shortage. National & Global Snapshot Fed raised rates 25 bps to 3.75–4% (first hike in 3 years). Weak September payrolls, unemployment at 4.2%, wage growth slowed to 3%. 30-year mortgage rate hit 7.4% in early October (highest since late 2023). Existing-home sales slowed; median price hit an August record; more listings with price cuts. Placer County September Stats Homes for sale ↓ 1.8% | Pendings ↓ 8.1% | Sales ↓ 6.2% (-13% vs last September) Days on market: 52 (+8.3%) List-to-sold ratio: 96% (unchanged from last year) Median single-family price: $680,000 (-1.9% month-over-month, still +4.6% year-over-year) Months of inventory: 2.9 (up from 2.7; ~15.7% higher than last year) Zac’s take: Expect more of the same until rates drop or incomes rise. No major price drops expected locally. Over the last 3 years, values are roughly flat. Timing the market is tough — focus on your goals and get creative. Want the PDF for your zip code? Drop it in the comments. Subscribe for straightforward Placer County market updates, proposition breakdowns, and practical advice from a top local agent — no hype, just the numbers that matter. #PlacerCountyRealEstate #RosevilleHomes #GraniteBayRealEstate #SacramentoHousingMarket #MortgageRates2026 #ZacBacon #QuantumRealEstate Follow me on: Instagram:   / quantumcalifornia   Facebook:   / quantumrealestatecalifornia   Website: https://www.quantumcalifornia.com/blog Yelp: https://www.yelp.com/biz/zac-bacon-qu...