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☆ Housing starts surge in May
▼ + stars: | 2023-06-20 | 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 starts surge in MayCNBC's Steve Liesman and Diana Olick report on May's housing starts data, mortgage applications and builder sentiment.

Persons: Steve Liesman, Diana Olick Organizations: Housing

☆ Mortgage demand surges as interest rates ease off recent highs
▼ + stars: | 2023-06-14 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. Mortgage rates pulled back for the second straight week last week, and it was enough to get both current and potential homeowners on the phone with their lenders. Mortgage application volume rose 7.2% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Most borrowers today have lower rates than what is currently available and therefore do not want to lose those rates even for a cash-out refinance. Although the Fed Funds Rate doesn't directly dictate mortgage rates, such a move would still put quite a bit of upward pressure on interest rates of all shapes and sizes," wrote Matthew Graham, COO of Mortgage News Daily.

Persons: Joel Kan, Matthew Graham Organizations: Mortgage, Federal Reserve, Mortgage News Locations: Albany , California

☆ Tornado alley is widening, putting millions more people and properties at risk
▼ + stars: | 2023-06-12 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Much of that is because the season is starting earlier, and tornado alley is expanding due to a warmer climate. Tornadoes need four ingredients to form, explained Ashley: moisture, instability (which provides the energy necessary for the storms), wind shear and lift. When a powerful F-4 tornado plowed through Rolling Fork, Mississippi, in March, residents were largely unprepared. The only one that I can remember is 1971, and the tornado bypassed Rolling Fork. That's precisely why the widening of tornado alley is fast becoming a new focus for insurers.

Persons: Walker Scott Ashley, Ashley, Eldridge Walker, Walker, That's, John Dickson, Dickson, Eric Andersen, Aon Organizations: Climate Central, Northern Illinois University, Tornadoes, Global, U.S ., Farm, Allstate Locations: U.S, Northeast Texas, Oklahoma, Arkansas, Fork , Mississippi, Rolling, Kansas, Mississippi, Aon, California

☆ Rising risks: Tornado Alley is expanding
▼ + stars: | 2023-06-12 | 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 EmailRising risks: Tornado Alley is expandingCNBC's Diana Olick joins 'Power Lunch' to report on the rising risks of the impact of extreme weather conditions.

Persons: Diana Olick

☆ The shortage of houses is hitting some people and areas harder than others
▼ + stars: | 2023-06-08 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

The shortage is hitting some buyers more than others. The lack of affordable homes heated up competition in the market this spring, which reversed the cooldown in home prices that started last summer. At the higher price ranges, too many homes are for sale for the number of Americans who can afford them. Areas in the Midwest continue to have the highest number of affordable homes. The four cities with the largest supply of affordable homes are all in Ohio.

Persons: Noah Herrera, Danielle Hale Organizations: National Association of Realtors Locations: Realtor.com, Las Vegas, El Paso , Texas, Boise , Idaho, Spokane , Washington, Florida, Riverside, Los Angeles , California, Ohio, Syracuse , New York, Pittsburgh , Pennsylvania, Louis , Missouri

☆ Mortgage demand drops despite rates coming off recent highs
▼ + stars: | 2023-06-07 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Mortgage rates fell back from their recent highs, but demand dropped for the fourth straight week. Total mortgage application volume declined 1.4% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. The refinance share of mortgage activity increased to 27.3% of total applications from 26.7% the previous week. Mortgage rates have not moved much this week, as there has been little economic data to push them in either direction. Next week's monthly inflation report from the government will likely be the next major read on the economy to influence mortgage rates.

Persons: Joel Kan Organizations: Mortgage Locations: San Francisco , California

☆ Developments in distress: Real issues facing real estate
▼ + stars: | 2023-06-07 | 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 EmailDevelopments in distress: Real issues facing real estateCNBC's Diana Olick reports on the state of the real estate industry.

Persons: Diana Olick

☆ This Black-owned startup is fixing and learning from broken EV charging stations
▼ + stars: | 2023-06-06 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

With electric vehicle adoption accelerating, so too is the need servicing public charging stations. Unlike fixing an old gas pump, some companies are using technology to both service and learn from the stations, to improve EV charging technology. More than one-quarter of public EV charging stations were found to be nonfunctioning, according to a survey done in California by researchers at the University of California, Berkeley, and Cool the Earth, an area nonprofit. barely three years ago and says the company is now servicing EV charging stations across 17 states. That data set can be helpful to network providers, EV and charging station manufacturers, plus governments, according to Terry.

Persons: Terry, ChargerHelp, it's, Vaughn Blake, Lisa Rizzolo Organizations: EV, University of California, Smart, Central, Duke Energy, Southern, Southern California Edison, Blue Bear, Energy Impact Partners, JFF Ventures, Exelon Foundation, Autodesk Foundation, CNBC Locations: California, Berkeley, Central Los Angeles, Southern California

☆ Digital Realty CEO Andrew Power: A.I. technology will live in a data center
▼ + stars: | 2023-06-06 | 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 EmailDigital Realty CEO Andrew Power: A.I. technology will live in a data centerCNBC's Diana Olick and Digital Realty CEO Andrew Power join 'Squawk Box' to discuss the company's growth drivers, the impact of A.I., rising interest rates, and more.

Persons: Andrew Power, Diana Olick Organizations: Digital, Digital Realty

☆ The momentum is still very good in the rental business by in-large, says Equity Residential CEO
▼ + stars: | 2023-06-06 | 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 EmailThe momentum is still very good in the rental business by in-large, says Equity Residential CEOCNBC's Diana Olick sits down with Mark Parrell, president and CEO at Equity Residential, to discuss the state of the apartment market as rents are easing and vacancies are rising.

Persons: CNBC's Diana Olick, Mark Parrell Organizations: Equity

☆ Startups seeing big business from fixing EV charging infrastucture
▼ + stars: | 2023-06-05 | 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 EmailStartups seeing big business from fixing EV charging infrastuctureCNBC's Diana Olick joins 'Power Lunch' to report on how businesses are helping improve EV charging and on home insurers continuing to pull out of California.

Persons: infrastucture, Diana Olick Organizations: EV Locations: California

☆ Mortgage rates volatile on hot economic reads, debt ceiling debate
▼ + stars: | 2023-06-02 | 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 EmailMortgage rates volatile on hot economic reads, debt ceiling debateCNBC's Diana Olick joins 'Squawk on the Street' to discuss the rise in mortgage rates which is taking a toll on the housing market.

Persons: Diana Olick

☆ Mortgage demand drops to the lowest level in three months
▼ + stars: | 2023-05-31 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates shot higher last week, as stronger economic data stoked more fear that the Federal Reserve will not lower interest rates anytime soon. In turn, mortgage demand dropped to the lowest level since the end of February. "While refinance demand is almost entirely driven by the level of rates, purchase volume continues to be constrained by the lack of homes on the market." With home prices starting to regain steam, mortgage rates higher and inventory levels still well below normal, potential homebuyers are getting hit from all sides on affordability. The direction of mortgage rates depends mostly on new reads on the economy.

Persons: Michael Fratantoni Organizations: Federal Reserve, Mortgage Bankers Association

☆ Home price declines may be over, S&P Case-Shiller says
▼ + stars: | 2023-05-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Nationally, home prices in March were 0.7% higher than March 2022, S&P CoreLogic Case-Shiller Indices said Tuesday. "The modest increases in home prices we saw a month ago accelerated in March 2023," said Craig J. Lazzara, managing director at S&P DJI, in a release. Before seasonal adjustment, prices rose in all 20 cities in March (versus in 12 in February), and in all 20 price gains accelerated between February and March. Miami, Tampa, Florida, and Charlotte, North Carolina, saw the highest year-over-year gains among the 20 cities in March. Compared with a year ago, 19 of 20 cities reported lower prices with only Chicago showing an increase at 0.4%.

☆ Why major commercial real estate firms are joining resources to recruit Black student-athletes
▼ + stars: | 2023-05-27 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Cedric Bobo discusses a new program for Black student-athletes to transition into the commercial real estate market. Bobo made a name for himself in real estate investing and then decided to pay it forward. Eager to diversify their workforces, some of the largest real estate development, finance and management firms have signed on to fund the internships and mentor the students. The program has trained more than 5,000 participants from over 350 universities worldwide and has partnered with over 250 real estate firms. He is now an acquisitions and development associate at Catalyst Housing Group, a California-based real estate development firm and a financial backer of the new partnership.

☆ Mortgage demand drops again as rates cross back over 7%
▼ + stars: | 2023-05-24 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Contractors work on concrete slabs in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, on Thursday, March 31, 2022. The average rate on the popular 30-year fixed mortgage crossed over 7% on Tuesday, according to Mortgage News Daily. First, uncertainty over what the Federal Reserve will do with interest rates, given a still strong economy; second, the battle over raising the debt ceiling and the possibility of a U.S. default. Both of those already had rates climbing last week with mortgage demand pulling back. Total mortgage application volume dropped 4.6% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

☆ New home sales rose 4.1% in April
▼ + stars: | 2023-05-23 | 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 home sales rose 4.1% in AprilCNBC's Rick Santelli and Diana Olick report on the latest economic data.

Persons: Rick Santelli, Diana Olick

☆ Los Angeles office vacancy rate spikes amid commercial real estate market struggles
▼ + stars: | 2023-05-22 | 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 EmailLos Angeles office vacancy rate spikes amid commercial real estate market strugglesCNBC's Diana Olick reports on news from the Los Angeles commercial real estate market.

☆ An exclusive look inside Amazon's uniquely sustainable HQ2
▼ + stars: | 2023-05-19 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

The 2.1 million square feet of space includes some of the newest clean energy technology and sustainability features. The floor is made of concrete from Carbon Cure, a clean cement company funded by Amazon's Climate Pledge Fund. Starting next week, the first of 8,000 Amazon employees will begin moving into one of two brand new 22-story towers in Arlington, Virginia. Amazon's HQ2, formally called Metropolitan Park, has many features that contribute toward the company's goal of reaching net zero carbon emissions across all operations by 2040. Hurst wouldn't say how much the sustainability features increased the cost of the development.

☆ Amazon's HQ2 delivers sustainable infrastructure
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon's HQ2 delivers sustainable infrastructureCNBC's Diana Olick joins 'The Exchange' to discuss Amazon's second headquarter development in Virginia, the new building's commitment to sustainable infrastructure, and Amazon's return to work policy.

☆ Home sales fell in April as buyers contended with high prices, fluctuating mortgage rates
▼ + stars: | 2023-05-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Sales of previously owned homes fell 3.4% in April from March to a seasonally adjusted, annualized pace of 4.28 million units, according to the National Association of Realtors. "The combination of job gains, limited inventory and fluctuating mortgage rates over the last several months have created an environment of push-pull housing demand." There were 1.04 million homes for sale at the end of April, an increase of 1% compared with April of last year. At the current sales pace, that represents a 2.9-month supply. While sales were lower at all price points compared with April 2022, they were down most sharply for homes priced above $500,000.

☆ April existing home sales fall 3.4%; leading economic indicators down 0.6%
▼ + stars: | 2023-05-18 | 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 EmailApril existing home sales fall 3.4%; leading economic indicators down 0.6%CNBC's Rick Santelli and Diana Olick report on April's leading economic indicators and existing home sales data.

☆ Mortgage demand drops as interest rates hit a 2-month high
▼ + stars: | 2023-05-17 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Higher mortgage rates and a severe shortage of homes for sale are taking their toll on mortgage demand. Mortgage applications to purchase a home dropped 4.8% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Mortgage rates increased last week, even as Treasury yields were essentially flat, with the spread between the two rates widening to 310 basis points. "Mortgage rates have generally been struggling versus Treasuries since the Fed ended reinvesting its bond portfolio proceeds in late 2022," explained Matthew Graham, chief operating officer. "More recently, elevated supply of mortgage debt owing to the FDIC's various liquidation efforts have weighed on the sector."

☆ Homebuilder sentiment pulls out of negative territory for the first time in nearly a year
▼ + stars: | 2023-05-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

It's the fifth straight month of gains and the first reading of builder sentiment since July that wasn't negative, which would be a reading below 50. With mortgage rates now double what they were a year and a half ago, some potential sellers may be reluctant to trade to another home at a higher rate. Homebuilders also drew more buyers by offering incentives, like buying down mortgage rates. Sentiment in the Midwest rose 2 points to 39. In the South, it increased 3 points to 52, and in the West moved 3 points higher to 41.

☆ Weather intelligence company aims to revolutionize forecasting with a constellation of radar satellites
▼ + stars: | 2023-05-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Boston-based Tomorrow.io began as a software company that offered hyper-precise, street-level weather forecasting. The company recently launched Tomorrow-R1, what it claims is the world's first commercially built weather-radar satellite, via SpaceX's Falcon 9 rocket. Tomorrow.io used proprietary software not just to predict but also to help companies plan for severe weather. The new radar satellite, however, will offer a much broader scope of data. Elkabetz said the company intends to launch more than two dozen of its own satellites over the next two years.

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