"We will drive down the mortgage rate so you will be able to pay 2% again, and we will be able to finance or refinance your homes drastically at much lower costs." - President Trump on the campaign trail, September 2024
The 10-year Treasury yield is at its highest since 2007; the 30-year, its highest since 2002.
Meanwhile, mortgage rates are back above 7%.
My @Morning_Joe Chart
BIG & BREAKING: After a long, difficult wait, automatic criminal record sealing begins TODAY in VA!!! This requires no work by the person whose record is being sealed. Is my record getting auto sealed? Head to the Justice Forward Foundation for details: https://t.co/oWICZcmkQx
Good to see one jurisdiction using @C_Herring's law we passed 2 years ago placing restrictions on the sharing of Flock camera data and consequences for people who abuse it
New Washington Post-Schar School Poll:
VA-01:
Rep. Rob Wittman (R): 46%
Shannon Taylor (D): 50%
VA-05:
Rep. John McGuire (R): 51%
Tom Perriello (D): 45%
America’s car affordability crisis is getting worse.
The average price paid for a 3-year-old vehicle in the US surged to a record $32,461 in Q2 2026.
This officially surpasses the previous record of $31,628 set in 2022.
Since 2020, the average price of a 3-year-old vehicle has soared +$9,701, or +43%.
The squeeze is becoming even more visible at the lower end of the market, where a $10,000 to $15,000 budget now buys a vehicle averaging nearly 9 years old with ~98,000 miles.
In 2019, the same budget bought a vehicle less than 5 years old with ~58,000 miles.
Even used car ownership is becoming a luxury.
The Norm entrance jokes on Cheers were famously tough to write.
George Wendt delivered 200+ of them over 11 seasons. As the show’s popularity grew, so did expectations. Writers said the real genius wasn’t always on the page; it was Wendt’s physical comedy, delivery, and timing.
BREAKING: The delinquency rate on Commercial Mortgage-Backed Securities (CMBS) for offices rose +9 basis points in August, to 12.0%, its 2nd-highest reading on record.
This is now only below an all-time high of 12.3% set in January 2026.
The CMBS delinquency rate is now 6 times higher than it was in early-2023.
By comparison, the post-2008 Financial Crisis peak was ~10.8%.
Meanwhile, the overall US CMBS delinquency rate has more than doubled since 2022, to 7.9%, its highest since early 2021.
Excluding the 2020 pandemic, this is the highest delinquency rate in 13 years.
The commercial real estate downturn is intensifying.