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Mortgage rates dropped last week, and homebuyers jumped off the fence. They drove total mortgage demand up 6.3% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. While the drop in rates wasn’t exactly huge, there was a fair amount of pent-up demand among homebuyers. Last year at this time mortgage rates were higher, but falling. The increase in conventional purchase applications helped push the average purchase loan size to $439,200, its highest level in almost a month,” Joel Kan, an MBA economist, said in a release.

Persons: homebuyers, ” Joel Kan, ”, Kan, Matthew Graham Organizations: Mortgage, “, pullbacks, Mortgage News

☆ Homebuyer demand for mortgages jumps 12%, after first interest rate drop in over 2 months
▼ + stars: | 2024-11-27 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates dropped last week, and homebuyers jumped off the fence. They drove total mortgage demand up 6.3% compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. While the drop in rates wasn't exactly huge, there was a fair amount of pent-up demand among homebuyers. Last year at this time mortgage rates were higher, but falling. The increase in conventional purchase applications helped push the average purchase loan size to $439,200, its highest level in almost a month," said Joel Kan, an MBA economist in a release.

Persons: homebuyers, Joel Kan, Matthew Graham Organizations: Mortgage, pullbacks, Mortgage News

☆ Pending home sales rise 2% monthly
▼ + stars: | 2024-11-27 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPending home sales rise 2% monthlyCNBC's Diana Olick reports on the latest housing data to cross the tape.

Persons: Diana Olick

☆ This startup makes thrifting furniture far easier, even for big retailers like Pottery Barn
▼ + stars: | 2024-11-26 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Furniture waste is a growing concern as consumers and companies seek to reduce carbon emissions. Apparel companies like Poshmark, Dpop and Thredup are thriving in online thrifting, but furniture thrifting is a lot more complicated, simply due to the size of the items. The New York-based startup is an online marketplace for buying and selling used furniture that provides pick-up and delivery for items. It also works with major retailers, like West Elm and Pottery Barn, to sell floor models or resell items that have been returned. For big furniture retailers, there is big waste in returns and the reverse logistics involved — from the costs to the transportation emissions.

Persons: Reham Fagiri, Kathleen O'Brien, O'Brien, Zoe Perret, Fagiri, Lisa Rizzolo Organizations: Environmental Protection Agency, Comcast Ventures, Hearst Lab, Great Oaks Venture, Soma, CNBC Locations: New York, AptDeco, U.S, Alaska, Hawaii

☆ New homes sales weaker-than-expected in October
▼ + stars: | 2024-11-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew homes sales weaker-than-expected in OctoberCNBC's Diana Olick reports the latest on new home sales data.

Persons: Diana Olick

☆ AptDeco aims to keep furniture out of landfills
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAptDeco aims to keep furniture out of landfillsCNBC's Diana Olick joins 'Power Lunch' with details about how one company is working to make furniture shopping more sustainable.

Persons: Diana Olick

A sharp drop in mortgage rates brought homebuyers off the fence in October after a slow summer. Sales were 2.9% higher than October of last year, marking the first annual increase in more than three years. While mortgage rates remain elevated, they are expected to stabilize.”There were 1.37 million units for sale at the end of October, an increase of 19.1% from October 2023. That is still high historically, but lower mortgage rates likely caused that share to drop. Mortgage rates are much higher now, at 7.05% on the 30-year fixed.

Persons: ”, Lawrence Yun, ” Yun, Chen Zhao Organizations: National Association of Realtors, Mortgage News, Fed Locations: Redfin

After flatlining the week before, mortgage demand rose last week, despite mortgage rates increasing for the fourth straight week. Total application volume climbed 1.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications for a mortgage to purchase a home rose 2% for the week but were 1% lower than the same week one year ago. Purchase demand was driven by conventional and FHA loans, with FHA purchase applications seeing a 7% increase. Mortgage rates are about flat so far this week, according to a separate survey from Mortgage News Daily.

Persons: ”, Joel Kan, Matthew Graham Organizations: Mortgage, Mortgage News Locations: Ukraine, Russia

☆ Weekly mortgage demand inched up, despite higher interest rates. Here's why.
▼ + stars: | 2024-11-20 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

After flatlining the week before, mortgage demand rose last week, despite mortgage rates rising for the fourth straight week. Total application volume increased 1.7% compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Applications for a mortgage to purchase a home rose 2% for the week but were 1% lower than the same week one year ago. Purchase demand was driven by conventional and FHA loans, with FHA purchase applications seeing a 7% increase. Mortgage rates are about flat so far this week, according to a separate survey from Mortgage News Daily.

Persons: Joel Kan, Matthew Graham Organizations: Mortgage, Mortgage News, U.S Locations: Ukraine, Russia

☆ Building permits data misses estimates in October
▼ + stars: | 2024-11-19 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBuilding permits data misses estimates in OctoberCNBC's Diana Olick reports on the latest housing data to cross the tape.

Persons: Diana Olick

☆ Homebuilder sentiment improved for the third straight month
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHomebuilder sentiment improved for the third straight monthCNBC's Diana Olick joins 'Squawk on the Street' to report on new data on homebuilder sentiment and an uptick of M&A in the space.

Persons: Diana Olick

☆ Homebuilder M&A soars - here's why
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHomebuilder M&A soars - here's whyCNBC's Diana Olick joins 'The Exchange' to report on homebuilder sentiment improving and why homebuilder M&A is soaring.

Persons: Diana Olick

Mortgage rates continued to climb last week as investors considered the future of the economy under a Trump presidency. The mortgage market basically took a breather. “Mortgage rates continued to increase last week, driven by higher Treasury yields as financial markets digested the likely impacts of a Trump presidency,” said Joel Kan, the Mortgage Bankers Association’s deputy chief economist. Last year at that time, mortgage rates were 75 basis points higher. “FHA mortgage rates bucked the overall trend and were lower over the week, which likely helped some borrowers,” Kan said.

Persons: Trump, ”, Joel Kan, Kan, ” Kan, Matthew Graham Organizations: Mortgage, “, Trump, Federal Housing Administration, U.S . Department of Veterans Affairs, Veterans, Mortgage News

☆ Homebuilder deal activity is surging, fueled by major Japanese buyers
▼ + stars: | 2024-11-13 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Exceptionally strong housing demand in the U.S. has large homebuilders in the driver's seat and smaller builders ripe for takeover. Whelan says she alone has four more set to close by year end, and there could be more from others. The surge is the result of still-growing housing demand that reignited at the start of the pandemic thanks to record low mortgage rates and sudden new migration. But mortgage rates also caused a historic housing shortage. That dynamic, sometimes called the mortgage rate lock-in effect, has exacerbated the housing shortage.

Persons: Margaret Whelan, Whelan Locations: U.S

☆ This climate startup is challenging Tesla in the race to electrify big rigs
▼ + stars: | 2024-11-12 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Big rigs make up just 10% of the vehicles on the road, but they account for nearly 30% of total vehicle carbon emissions. Now one startup, California-based Range Energy, is focused not on the tractor but the trailer. said Ali Javidan, CEO of Range Energy. "When I push this button to activate the system, the trailer follows me," Javidan said as he demonstrated the system. Range Energy has raised $31.5 million so far, and it is backed by R7, UP.Partners, Trousdale Ventures and Yamaha Motor Ventures.

Persons: Ali Javidan, Javidan, Ricky Souza, Souza, There's, Tyler Engh, Engh, Lisa Rizzolo Organizations: Volvo, Freightliner, Tesla, Range Energy, Energy, Northern, Trousdale Ventures, Yamaha Motor Ventures, CNBC Locations: California, United States, Northern

☆ Apartment vacancies fall in Q3 for the first time in more than two years
▼ + stars: | 2024-11-11 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApartment vacancies fall in Q3 for the first time in more than two yearsCNBC's Diana Olick reports on the latest news from the housing sector.

Persons: Diana Olick

☆ Startup works to electrify big rigs
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStartup works to electrify big rigsCNBC's Diana Olick joins 'Power Lunch' with details about how one company is working to electrify large trucks.

Persons: Diana Olick

☆ Mortgage rates surge higher on Trump victory
▼ + stars: | 2024-11-07 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMortgage rates surge higher on Trump victoryCNBC's Diana Olick joins 'The Exchange' to discuss soaring mortgage rates and their impact on the housing market.

Persons: Diana Olick Organizations: Trump

☆ Mortgage rates surge higher on Trump victory, causing housing stocks to fall
▼ + stars: | 2024-11-06 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

"The expectation among bond traders coming into the election was that rates would move higher in the event of a Trump victory and especially a red sweep. "The builder stocks are highly sensitive to mortgage rates and mortgage rate expectations. Big builders have been buying down mortgage rates for their customers, but that has been cutting into their margins. Mortgage rates don't follow the Fed, but do react to the central bank's thinking on the economy. Stronger-than-expected economic reports in September and October caused bond yields, and consequently mortgage rates, to move higher.

Persons: Donald Trump's, Matthew Graham, Horton, PulteGroup, Lowe's, John Burns, Trump, Carl Harris, Graham Organizations: Mortgage News, Trump, . Housing, John Burns Real Estate Consulting, National Association of Home Builders, Federal Reserve, National Association of Realtors Locations: U.S, D.R

☆ Weekly mortgage demand tanks 11% as interest rates surge higher
▼ + stars: | 2024-11-06 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates rose again last week, pulling demand from both the refinance and purchase markets. Total mortgage application volume dropped 10.8% compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Applications for a mortgage to purchase a home decreased 5% for the week and were just 2% higher than the same week one year ago. Mortgage rates, however, are pricing some buyers out again, and concern over the economy and the election may have some sitting on the sidelines right now. Mortgage rates were essentially flat to start this week, and whatever the results, or nonresults of the election, will surely play into recent volatility.

Persons: Joel Kan, Kan Organizations: Mortgage, Federal Reserve Locations: Alhambra , California

☆ Housing affordability hits voters; cheaper now to rent than to own compared to 2020
▼ + stars: | 2024-11-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing affordability hits voters; cheaper now to rent than to own compared to 2020CNBC’s Diana Olick joins 'Power Lunch' to discuss housing affordability in the key swing states for this presidential election.

Persons: Diana Olick

☆ Housing affordability weighs on voters during election
▼ + stars: | 2024-11-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing affordability weighs on voters during electionCNBC's Diana Olick joins 'Squawk on the Street' to discuss how housing affordability may impact voter sentiment.

Persons: Diana Olick

☆ More homeowners just started pulling cash out of their properties. Here's why.
▼ + stars: | 2024-11-04 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

U.S. homeowners are sitting on a record amount of equity, but higher interest rates over the past two years have made them reluctant to tap into it. While mortgage rates don't exactly follow the Fed's rate, home equity lines of credit, or HELOCs, are tied to it. "Over the past 10 quarters homeowners have extracted $476B in equity, exactly half the extraction we'd expect to see under more normal circumstances. Homeowners tend to use equity for home repairs, renovation projects and large expenses, such as college tuition. More supply is coming on the market, and primary mortgage rates are higher than they were over the summer.

Persons: Andy Walden, Walden Organizations: Los Angeles , California ., ICE Mortgage Technology, Federal Reserve, Fed Locations: Chatsworth, Los Angeles , California, Los Angeles , California . U.S

☆ US homeowners have record equity
▼ + stars: | 2024-11-04 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUS homeowners have record equityCNBC's Diana Olick joins 'The Exchange' with the the latest homeowner equity numbers.

Persons: Diana Olick

☆ There's no 'secret sauce' to real estate investing, says Property Brothers' Jonathan Scott—how to tell if you're ready to buy
▼ + stars: | 2024-10-31 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

Property Brothers Jonathan and Drew Scott still believe in the opportunity to grow wealth through real estate investing, but there are important factors to consider in today's market, they told CNBC's Diana Olick at a recent CNBC Your Money event. "I absolutely do believe in homeownership as a good investment," Jonathan said. One of those key factors: Individuals should only invest in property on their own timeline, Jonathan said. "As soon as you're desperate to get into a property, you're going to make a bad decision." Buyer's remorse is common among recent homebuyers: 82% of people who bought homes in 2023 or 2024 have at least one regret, a recent survey from real estate company Clever found.

Persons: Jonathan, Drew Scott, CNBC's Diana Olick, Jonathan said, Clever Organizations: CNBC Locations: homeownership

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