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Search resuls for: "Diana Olick"


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☆ Redfin reports the first annual rental decline in three years
  + stars: | 2023-04-17 | 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 EmailRedfin reports the first annual rental decline in three yearsCNBC's Diana Olick joins 'Squawk on the Street' to discuss multi-family housing developments, decreased pressure on rent prices, and rental demand increasing in New York City with declines in Miami.
☆ Today's homebuyers have their mortgage rate tipping point, and it's artificially low
  + stars: | 2023-04-14 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +4 min
Today's homebuyers are exceptionally sensitive to mortgage rates with house prices so high — and they've found their tipping point. After years of government intervention following the great recession and the first years of the Covid-19 pandemic that kept mortgage rates artificially low, today's buyers have a skewed view of what "normal" mortgage rates are. In addition, 62% of buyers said they believed that a "historically normal mortgage rate" was below 5.5%. "Today's homebuyers are extremely sensitive to fluctuating interest rates, and a significant drop in mortgage rates would likely make the market more competitive." Nearly two-thirds of respondents said they've had to reduce their housing budgets due to the current level of mortgage rates.
☆ Mortgage rate tipping point: Most buyers say 5.5% or lower
  + stars: | 2023-04-14 | 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 rate tipping point: Most buyers say 5.5% or lowerCNBC's Diana Olick joins 'The Exchange' to report on the mortgage rate tipping point.
☆ Homebuyer mortgage demand jumps after interest rates drop to two-month low
  + stars: | 2023-04-12 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +1 min
Today's housing market is so pricey that homebuyers are highly sensitive to any distinct moves in mortgage rates. They were, however, 31% lower than the same week one year ago, when interest rates were significantly lower. Buyers have been up against not only higher rates and higher home prices, but very limited supply. At today's interest rates, there are very few borrowers who can benefit from a refinance. Mortgage rates moved higher to start this week, and they could move decidedly in either direction after the government's monthly report on inflation is released Wednesday.
☆ Mortgage rates dip slightly following latest CPI report
  + stars: | 2023-04-12 | 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 EmailMortgage rates dip slightly following latest CPI reportCNBC's Diana Olick joins 'The Exchange' to discuss a rise in mortgage applications, the CPI impact on mortgage rates, and borrowers benefiting from a refinance.
☆ Billionaire founder of Paul Mitchell and Patron invests in man-made coral reefs
  + stars: | 2023-04-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +4 min
Coral reefs, often called the "rainforests of the sea," support roughly 25% of all known marine species. And the planet has lost half its coral reefs since the 1950s due in large part to climate change. The annual value of U.S. commercial and recreational fisheries dependent on coral reefs is $200 million. Brosnan has been studying coral reefs for more than 25 years, with a specific focus on the Caribbean. So right now today, we lose more coral reefs in a day than we can restore in a decade."
☆ Ocean-Shot rebuilds coral reefs to save island economics after climate damage
  + stars: | 2023-04-10 | 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 EmailOcean-Shot rebuilds coral reefs to save island economics after climate damageCNBC's Diana Olick reports on efforts to save the globe's damaged coral reefs.
☆ Lack of home listings is taking a toll on mortgage demand
  + stars: | 2023-04-05 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Mortgage rates fell last week, but demand for home loans didn't move higher as a result. Other aspects of today's housing market are outweighing the benefit of lower mortgage rates right now, namely a lack of supply. Mortgage applications to purchase a home, however, dropped 4% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. "Although the mortgage rate for conforming balance loans declined by five basis points over the week to 6.40%, the mortgage rate for jumbo loans increased by nine basis points to 6.36%," added Fratantoni. The refinance share of mortgage activity decreased to 28.6% of total applications from 29.1% the previous week.
☆ Home prices in February rose for the first time in 7 months
  + stars: | 2023-04-03 | 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 EmailHome prices in February rose for the first time in 7 monthsCNBC's Diana Olick reports on a turnaround in the housing market.
☆ Home prices suddenly jump after several months of declines
  + stars: | 2023-04-03 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +3 min
Home prices nationally rose 0.16% in February, when seasonally adjusted, according to Black Knight. By fall, the rate shot over 7%, and home prices began cooling more quickly. In December and January, however, mortgage rates began pulling back, and homebuyers were quick to take advantage. "Conscious of changing mortgage rates, home buyers are taking advantage of any rate declines," Lawrence Yun, NAR's chief economist, said in the February sales release. Mortgage rates began rising again in February and then fell back slightly in March due to market fears over the U.S. banking system, amid several bank collapses.
☆ This start-up makes coffee pods you can safely throw away
  + stars: | 2023-04-03 | 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 EmailThis start-up makes coffee pods you can safely throw awayCNBC's Diana Olick reports on a coffee start-up doing away with single-use plastics in coffee pods.
☆ Weak housing demand is bumping against supply constraints, says Black Knight's Andy Walden
  + stars: | 2023-04-03 | 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 EmailWeak housing demand is bumping against supply constraints, says Black Knight's Andy WaldenBlack Knight's Andy Walden, VP of enterprise research, and CNBC's Diana Olick, join "The Exchange' to discuss affordability constraints weighing on market demand for housing, the weakening inventory for available homes, and buyers willing to return to the market as mortgage rates fall.
☆ More home sellers are sitting out of the spring housing market
  + stars: | 2023-03-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +3 min
Buyers are flooding back into the market, mortgage rates have fallen off their recent highs, and there are still far too few homes for sale to meet demand. The active inventory of homes for sale is, however, 60% higher than the start of last spring, but that is only because homes are taking longer to sell. Inventory is also half of what it was at the start of spring in 2019, before the pandemic caused an unprecedented run on housing. Homes are now sitting on the market an average of 54 days, up from an average of 36 days at the start of last spring. Prices are now flat in Phoenix, another market where prices had been surging.
☆ Pending home sales squeezed out a tiny gain in February, as mortgage rates jumped
  + stars: | 2023-03-29 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +1 min
Higher mortgage rates took some of the juice out of the housing recovery in February. After a sharp gain in January, pending home sales rose just 0.8% month to month, according to the National Association of Realtors. Mortgage rates shot higher in February after dropping sharply in January. Regionally sales moved higher month to month in every region except the West, where they fell 2.4%. Any jump in mortgage rates would have an outsized effect there.
☆ Mortgage demand gets a boost from bank volatility, but it may be short-lived
  + stars: | 2023-03-29 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Stress in the banking system turned out to be a boon for the U.S. mortgage market. Mortgage rates followed. Mortgage demand, consequently, rose 2.9% compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Mortgage applications to purchase a home increased 2% for the week but were 35% lower than the same week one year ago. Mortgage rates, however, moved more than 20 basis points higher to start this week, according to a separate survey from Mortgage News Daily.
☆ Rent growth drops back to pre-pandemic levels, but some markets are falling much harder
  + stars: | 2023-03-28 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Apartment rents have increased slightly for the past few months, as the seasonally stronger spring activity kicks in. And, after last year's record-setting pace, rent growth is now slightly below the pre-pandemic average of 2.8%. It looks like 2023 is shaping to be a year of modest positive rent growth," researchers at Apartment List noted in the report. Single-family rent growth was 5.7% year over year in January, the lowest rate of appreciation since spring 2021, according to CoreLogic. "While rent growth is slowing at all tracked price tiers, declines for the lowest-cost rentals are not as significant, which raises affordability concerns.
☆ Home prices cool in January, even falling in some cities, S&P Case-Shiller says
  + stars: | 2023-03-28 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Home prices cooled in January, up only 3.8% nationally than they were a year earlier, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. That was likely due to a brief drop in mortgage rates and a resulting jump in sales. Home prices have been cooling due to higher mortgage rates. Miami prices were up 13.8%, Tampa prices up 10.5%, and Atlanta prices rose 8.4%. All 20 cities, however, reported lower prices in the year ending January 2023 versus the year ending December 2022.
☆ Home prices cool in January
  + stars: | 2023-03-28 | 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 EmailHome prices cool in JanuaryCNBC' Diana Olick joins 'The Exchange' to discuss dips in home prices in January, changes in the average rate on 30-year fixed mortgages, and the regional impact of the rate hike on mortgage rates.
☆ Pain on the office sector: Impact on banks holding the loans
  + stars: | 2023-03-27 | 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 EmailPain on the office sector: Impact on banks holding the loansCNBC's Diana Olick reports on how the recent banking crisis has been affecting office real estate companies.
☆ Commercial real estate drops in value as higher interest rates make borrowing costs higher
  + stars: | 2023-03-27 | 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 EmailCommercial real estate drops in value as higher interest rates make borrowing costs higherCNBC's Diana Olick reports on news from the commercial real estate sector.
☆ New home sales rise by 1.1% in February
  + stars: | 2023-03-23 | 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 rise by 1.1% in FebruaryCNBC's Rick Santelli and Diana Olick join 'Squawk on the Street' to discuss the latest data on new home sales.
☆ Mortgage demand increases again, but interest rates are rising
  + stars: | 2023-03-22 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Mortgage demand has increased for three straight weeks now, as interest rates dropped in response to the recent bank failures. "However, mortgage rates have not dropped as much as Treasury rates due to increased MBS market volatility." Refinance demand is highly sensitive to weekly rate moves, but there are precious few borrowers right now who can still benefit from a refinance at today's higher interest rates. Today's homebuyers may be less influenced by weekly interest rate moves and more influenced by the state of the economy. Mortgage rates don't follow the Fed exactly, but they do respond to its perception of the overall economy.
☆ Home sales spike 14.5% in February as the median price drops for the first time in over a decade
  + stars: | 2023-03-21 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +3 min
These sales counts are based on closings, so the contracts were likely signed at the end of December and throughout January, when mortgage rates had fallen sharply. Sales of previously owned homes rose 14.5% in February compared with January, according to a seasonally adjusted count by the National Association of Realtors . The relative drop caused a jump in sales of newly built homes, before rates jumped back toward 7% in February. That lower median price could be a sign that homes on the more affordable end of the market are selling. At a recent open house in Cleveland, Ohio, home shopper Katie Berardi said higher mortgage rates have had an impact on what she and her husband can afford.
☆ Mortgage giant Fannie Mae tackles climate risk, but changes to underwriting may take several years
  + stars: | 2023-03-20 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +4 min
But the housing market currently doesn't price that climate risk into home values. The mortgage giant's chief climate officer, Tim Judge, says mortgage underwriting does not currently account for climate risk. To help, Judge is hiring climate risk modeling firms, such as First Street Foundation and Jupiter Intelligence, as well as others, to figure out just how to factor climate risk into home values and mortgage underwriting. First Street, for example, looks at climate risk from floods, fire and wind, and brings it down to an individual property level. But Fannie Mae is not yet rejecting any mortgages based solely on climate risk.
☆ Mortgage industry to factor climate risks before lending
  + stars: | 2023-03-20 | 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 industry to factor climate risks before lendingCNBC's Diana Olick reports on whether mortgage underwriting, in general, is taking into account the risks from climate change.
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