business
Mortgage rates are stuck near 6.5%. A new housing law may make buying easier – eventually
By CNN Newsource at KVIA ABC-7
· July 9, 2026
· 4 min read
By Samantha Delouya, CNN
(CNN) — Home shoppers hoping for a break in affordability as the spring homebuying season wraps up may be in for another letdown.
The war with Iran and the inflation spike that followed have kept mortgage rates stubbornly high, while fresh fears that the Federal Reser...
Key takeaway 49%, according to Freddie Mac, hovering near the highest levels of the year.
Why this matters in The El Paso
For El Paso homebuyers, the stagnant mortgage rates near 6.5% mean continued pressure on affordability, a challenge that could impact local housing market activity. The city's housing market, closely tied to the national trends, may see buyers hesitant to enter the market due to high interest rates. As the new bipartisan housing law aims to boost supply and ease affordability strain over the next few years, El Paso residents may see some relief, but it will likely be a slow process. The law's potential impact on local housing development and availability will be worth watching, particularly in areas with growing demand for affordable housing. Meanwhile, the recent slowdown in home sales, with a 2.4% drop in June, could be a sign of things to come in El Paso, where buyers may be waiting for more favorable market conditions before making a move.
About this story
Original reporting by KVIA ABC-7 . The El Paso surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KVIA ABC-7 . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: July 9, 2026 ·
Source: KVIA ABC-7 ·
Reading time: 4 min
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Frequently asked about this story
What is this story about? By Samantha Delouya, CNN
(CNN) — Home shoppers hoping for a break in affordability as the spring homebuying season wraps up may be in for another letdown.
The war with Iran and the inflation spike that followed have kept mortgage rates stubbornly high, while fresh fears that the Federal Reser...
When was this published? This article was first published on July 9, 2026 by KVIA ABC-7 and curated for The El Paso readers.
Who reported this story? This story was reported by CNN Newsource at KVIA ABC-7. To learn more about how The El Paso selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The El Paso, or browse our daily briefing and topic hubs .
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