Buying a condo or a home in an HOA in California? Ed Parcaut and Mike Kelly talk through the state law that caps most HOA fines at $100 per violation, with no late fees or interest on top, and an exception for real health or safety violations. They also cover the bond market and mortgage rates the morning after the midterms, the ADP jobs report, the Cotality home price report, MBA mortgage applications, October closings in Stanislaus County, California population projections, and why mineral rights can matter when you buy land.

CHAPTERS:
0:00 Intro
2:18 Bonds, the 10-year Treasury and mortgage rates after the midterms
4:40 ADP employment report
5:32 Cotality home price insights
6:47 MBA mortgage applications
7:58 October closings in Stanislaus County
9:02 California population projections
11:35 California caps HOA fines at $100
13:10 Mineral rights and abandoned wells
14:56 Wrap up

Sources: AB 130 (2025), signed June 30, 2025, effective July 1, 2025, limits most California HOA fines to $100 per violation, with an exception for violations with an adverse health or safety impact (Center for California Homeowner Association Law, https://calhomelaw.org/new-law-caps-hoa-fines-at-100/; AP News, https://apnews.com/article/california-louis-brown-general-news-398e29b27e8f30627c1d7b7a5d7bba6d). ADP National Employment Report for October, as read on the show (86,000 private jobs vs. 69,000 expected). Rates change daily and depend on the borrower and loan.

Michael Kelly, CA DRE #01072204, RE/MAX Executive

Edward R. Parcaut, NMLS #235384, CA DRE #01077454. Lending For Living Inc, Real estate broker, California Department of Real Estate, NMLS #855360, CA DRE #01907016. Equal Housing Opportunity. This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines and program availability. NMLS Consumer Access: www.nmlsconsumeraccess.org