Where home prices are rising—and where they’re falling

Plus: Mortgages above 6% exceed share below 3%

January 23, 2026

👋 Happy Friday! Got feedback about the newsletter? Email me—I’d love to hear from you. Today’s newsletter is 616 words, a 2-minute read.

Disclaimer: Average mortgage rates as of January 22, 2026. © MND Daily Rate Index.

1. Pending home sales plunged nearly 10%

Stagnant mortgage rates, falling housing supply and ongoing economic uncertainty weighed heavily on homebuyers in December.

Pending home sales, a measure of signed contracts on existing homes, dropped 9.3% last month from November, according to the National Association of Realtors. Analysts were expecting a slight gain.

“The housing sector is not out of the woods yet,” said Lawrence Yun, chief economist for the Realtors. “After several months of encouraging signs in pending contracts and closed sales, the December new contract figures have dampened the short-term outlook.”

2. Trump sues JPMorgan, Dimon over alleged debanking

President Donald Trump filed a $5 billion lawsuit Thursday against JPMorgan Chase and its CEO, Jamie Dimon, for alleged political debanking.

Trump filed the complaint in Miami-Dade County state court, accusing JPMorgan of trade libel and breach of implied covenant of good faith and fair dealing, court documents show. Trump also accused Dimon of violating Florida’s unfair and deceptive trade practices act.

“Debanking is a matter of public interest and significant importance to all consumers and businesses in the United States of America — and JPMC, especially given its storied and leading history, is a central actor in this ongoing and troubling saga,” according to the complaint.

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3. More Nuggets

⚖️ Brothers Tal and Oren Alexander — once among the nation's top luxury real estate brokers — headed to court for sex-trafficking trial. (NBC)

🏠 Where home prices are rising—and where they’re falling. (ResiClub)

⛓️‍💥 Trump commutes sentence of CT developer convicted in $50 million mortgage fraud scheme. (WFSB)

🕵️ First American launches free title monitoring, fraud alerts. (FirstAmerican)

🚫 HUD suspends FHA loan approval for Equity Prime Mortgage, RAC in several markets. (HousingWire)

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4. Crypto lender Nexo fined $500K by California regulator

Nexo will pay $500,000 to settle allegations that the cryptocurrency lender issued thousands of loans to Californians without a license and without considering borrowers’ ability to repay, the state’s Department of Financial Protection and Innovation announced.

“Lenders must follow the law and avoid making risky loans that endanger consumers — and crypto-backed loans are no exception,” DFPI Commissioner KC Mohseni said in a statement. “DFPI will continue to hold companies accountable when they break the law and put consumers’ financial security at risk.”

In a statement released Tuesday, Nexo spokesperson Eleonor Genova said the settlement concerns “legacy issues from an earlier phase of the business.”

5. Mortgages above 6% exceed share below 3%

In Q3 2025, the share of U.S. homeowners with mortgage rates at or above 6% rose to 21.2%, surpassing the 20% share with rates below 3% for the first time, based on a Realtor.com analysis of FHFA data.

The shift signals a gradual unwind of the pandemic-era “rate lock-in” dynamic that has limited home sales by discouraging owners from giving up ultra-low mortgages.

☀️ You’re all caught up. See you on Monday!

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