"At a Glance" Local Housing STATS and News 05/29/26

30-Year Fixed: 6.59%  |  15-Year Fixed: 6.11%

The 30-year is flat at 6.59%, the 15-year at 6.11%, a quiet end to the week. The bigger rate story is in the data: Core PCE ticked up to 3.3%, and the market is now leaning toward the Fed’s next move being a hike, not a cut. The buyer waiting for lower rates is waiting on something that may not arrive.

Local board: 2,964 active (up 21), 216 new listings (up 23), 216 closed sales. New supply and closings ran dead even at 216 each, so the board keeps building but clears what it adds.

National: San Francisco just tied New York as the most expensive rental market in the country, both at $5,500/month for a 2-bedroom (see chart). SF rents jumped 20-25% in a year on AI hiring (OpenAI, Anthropic), with vacancy near 3.3%. The robots aren’t taking the jobs so much as taking the apartments.

Fremont & Milpitas

• Fremont: 21 new / 372 active (up 1)
• Milpitas: 3 new (up 3)

I-880 Corridor

• Hayward: 15 new (up 1)
• Newark: 6 new (flat)
• Union City: 6 new (up 1)
• San Leandro: 8 new (up 1)
• San Lorenzo: 5 new (flat)

Tri-Valley

• Livermore: 26 new (up 3)
• San Ramon: 22 new (up 1)
• Dublin: 16 new (up 4)
• Pleasanton: 11 new (up 5, biggest add)

Oakland & Contra Costa

• Oakland: 49 new / 793 active (volume leader)
• Danville: 17 new (up 2)
• Castro Valley: 10 new (up 2)
• Sunol: 1 new (flat)

S&P 500: 7,563  |  DOW: 50,668  |  NASDAQ: 26,917

Software came roaring back Thursday. Snowflake (SNOW +36.48%) had the best day in its history on a $6B Amazon compute deal plus an earnings beat; ServiceNow and Palantir rode the same wave. The AI trade still has a few moves left.

The Pentagon is reportedly taking equity stakes in U.S. drone makers, and the stocks went vertical: Unusual Machines (UMAC +57.20%), Kratos (KTOS +13.77%), AeroVironment (AVAV +18.26%). One catch: Donald Trump Jr. is a shareholder in Unusual Machines, which all but guarantees congressional scrutiny.

US 10-Year: 4.43%  |  Gold: $4,530  |  WTI Crude: $88.70

The inflation print is the story. Core PCE rose to 3.3% annually in April, well above the 2% target. Wall Street’s read: the Fed’s next move is now more likely a hike than a cut. Consumer spending rose 0.5% while incomes stayed flat, dropping the savings rate to 2.6%, the lowest since 2022.

Oil eased on reports of a possible Strait of Hormuz reopening. Brent slipped to $92.76 and WTI to $88.70, though Iran launched fresh attacks even as a deal was floated, so nobody is keeping the story straight yet. Gold held near $4,530.

BTC: $73,300  |  ETH: $2,003  |  XRP: $1.31

Crypto drifted lower across the board, with BTC slipping under $73.5K. The notable story is regulatory: the CFTC asked a federal judge to throw out its own 2025 case against Gemini, the Winklevoss twins’ exchange. When the regulator moves to dismiss its own enforcement action, that is the clearest sign yet of the policy thaw the industry has been waiting for.

Disclaimer: The market data, rates, and information provided are for informational purposes only and should not be considered financial advice. Always verify rates and data with your lender or financial advisor before making any decisions.