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☆ With high prices and mortgage rates, aspiring and current homeowners feel ‘stuck'
▼ + stars: | 2024-07-13 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

A double whammyFor aspiring homebuyers such as Burress, the combination of high mortgage rates and rising list prices has left them feeling boxed out. The 30-year mortgage rate, a popular option for home financing in the U.S., has bounced around 7% for the past several months. Given this, co-author Jonah Coste said current owners touting these low mortgage rates are undoubtedly better off than those looking to buy a first home today. After welcoming three kids, they're holding off on a fourth until mortgage rates or home prices come down enough to upsize. To be clear, mortgage rates tend to follow the path of Fed-set interest levels, but they aren't the same thing.

Persons: Brandon Bell, Rachel Burress, Burress, who've, that's, That's, Jonah Coste, there's, They're, Coste, they're, Luke Nunley, Nunley, We'd, Jeffrey Roach, LPL, Roach, hasn't, It's, Daryl Fairweather, Lindsey Nicholson Organizations: Getty, Atlanta Federal Reserve, Atlanta Fed, Federal Housing Finance Agency, National Association of Realtors, Federal Reserve, Corcoran Realty, UCG Locations: Austin , Texas, Fort Worth , Texas, Aledo, U.S, Atlanta, Kentucky, Forest Hills, Queens , New York

☆ How a 'softening' real estate market could help you score a lower price on a home
▼ + stars: | 2024-07-03 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Home prices may have hit a new high, but the real estate market is showing signs of weakness that could help buyers negotiate a lower price on a house. For the four weeks ending June 30, homes sold for 0.3% below asking price, according to a recent report by online real estate brokerage Redfin. But if anything, it's a momentary correction in a real estate market that still favors sellers. That's because the Federal Reserve is expected to announce federal funds rate cuts that will help lower mortgage rates before the end of the year. Considering that many would-be buyers have been priced out of the market by high mortgage rates, lowering rates would increase the number of potential buyers able to afford a home.

Persons: Daryl Fairweather, there's, Fairweather Organizations: Federal Reserve Locations: U.S

☆ Judge delays ban on noncompete agreements for employees
▼ + stars: | 2024-07-03 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +2 min

New York CNN —A federal judge on Wednesday delayed a ban on noncompete agreements from taking effect for a small number of US workers on September 4. Unless the judge makes another ruling before that date, the ban will go into effect for the majority of employers in the US. The ban, which prohibits employers from enforcing noncompete clauses in most existing employment agreements and bans companies from including them in all future ones, was approved by the Federal Trade Commission in April. The FTC estimates that 30 million people — one in five US workers — are bound by a noncompete clause in their current jobs. In response to the order, FTC spokesperson Douglas Farrar said, “The FTC stands by our clear authority, supported by statute and precedent, to issue this rule.

Persons: ”, Ada Brown, Ryan, Daryl Joseffer, Douglas Farrar Organizations: New, New York CNN, Court, Northern, Northern District of Texas, Federal Trade Commission, Ryan LLC, US Chamber of Commerce, Business, Texas Association of Business, Longview Chamber of Commerce, Plaintiff, FTC, US, of Commerce, U.S, Chamber Locations: New York, Northern District, Texas, Longview

☆ Selling a home is expensive, too: Homeowners typically spend nearly $55,000, report finds
▼ + stars: | 2024-06-27 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +6 min

It typically costs $54,616 to sell a house in 2024, according to a June 17 report from Clever Real Estate. In May, Clever Real Estate polled 1,014 Americans who sold a home between 2022 and 2024 about their attitudes related to the home-selling process. "Ultimately, [with] many of these fees, there's no harm in trying to negotiate, and that includes real estate commissions," Hamrick said. But the highest expenses an owner will face when selling a home are the real estate agent commission fees, Ahmed said. Sell without a real estate agent: Homeowners could try to sell the house themselves and potentially drop real estate services altogether, said Dunaway-Seale.

Persons: Jaime Dunaway, Seale, they're, that's, Dunaway, Mark Hamrick, Hamrick, Kashif, Ahmed, Daryl Fairweather, Orphe, Sellers, brokerages, Claudia Cobreiro, Cobreiro Organizations: Finance, Wealth, Redfin, CNBC, U.S, The National Association of Realtors, Cobreiro, MLS, Realtors, Homeowners Locations: Bedford , Massachusetts, Coral Gables , Florida, Miami

☆ Weak yen: Japanese policymakers 'caught in a bind,' wealth management firm says
▼ + stars: | 2024-06-24 | 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 yen: Japanese policymakers 'caught in a bind,' wealth management firm saysDaryl Liew, head of portfolio management at SingAlliance, says the Bank of Japan could hike interest rates at a faster pace to stem the yen's weakness, but "extremely high" debt levels would mean Japan would face pressure "from a fiscal perspective, which would then put pressure on the yen as well."

Persons: Daryl Liew Organizations: Bank of Locations: SingAlliance, Bank of Japan, Japan

☆ Ralph Lauren designs Team USA’s uniforms for the 2024 Olympics
▼ + stars: | 2024-06-18 | by ( Alex Rees | ) edition.cnn.com time to read: +4 min

I think that Ralph Lauren is able to understand that ethos and bring it to life,” Lauren continued. "Team USA uniforms celebrate classic styles that are made to be loved and endure for generations," Ralph Lauren said in a statement of the label's new designs — like the single-breasted blazers athletes will wear to the opening ceremony on July 26. For this occasion, Ralph Lauren designed a racecar-style jacket with USA patch detailing, a a classic striped polo and crisp white jeans. Richard Phibbs/Courtesy Ralph LaurenGymnast Shilese Jones — one of Ralph Lauren's brand ambassadors at the 2024 Games — is pictured in the closing ceremony look. John Guerrero/Courtesy Ralph Lauren

Persons: Ralph Lauren, athleisure, “, ” David Lauren, Ralph Lauren’s, ”, ” Lauren, Richard Phibbs, Ralph Lauren Four, Katie Ledecky, Steven Pan, Kamren Larsen, Ralph Lauren Denim, Jamal Hill, Daryl Homer, Shilese Jones, Ralph Lauren's, “ Ralph Lauren, ” Sarah Hirshland, ” Kiteboarder Daniela Moroz, John Guerrero Organizations: CNN, USA, Olympic, Team USA, ”, ’, Paralympic, Paris Games Locations: Paris, ”, America

☆ Trump's ex-national security advisor wants to restart US nuke testing. Nuclear experts warn that's not a good idea.
▼ + stars: | 2024-06-18 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

Read previewDonald Trump's former White House national security advisor is arguing that a second term in office should involve restarting US nuclear testing for the first time in over 30 years. No one wins a nuclear arms race, he said. Kimball called out the difference between O'Brien's argument for the resumption of nuclear testing with the Biden administration's current policy, which remains dedicated to the status quo. "Resuming nuclear testing would reduce US technical superiority over Russia and China because they would immediately follow and have much more to learn," he said. O'Brien's push for resumed testing shouldn't necessarily come as a surprise.

Persons: —, Donald Trump's, That's, Robert O'Brien, Trump, O'Brien, Jon B, Obama, Donald Trump, Xi Jinping, Brendan Smialowski, Wolfsthal, Daryl Kimball, Strangelove, Kimball, Biden, Joe Biden's, Jake Sullivan, We've, Maxim Zmeyev, Jeffrey Lewis, Hans Kristensen, John Bolton Organizations: Service, White House, Business, Foreign Affairs, United, Russian, Getty, US, Arms Control, Joe Biden's National, Middlebury Institute of International Studies, Federation of American, US State Department Locations: Russia, China, United States, Washington, US, AFP, PRC, People's Republic of China, Moscow, Monterey

☆ Competition in the housing market is cooling off. Here's why
▼ + stars: | 2024-06-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

"You have an increase in sellers coming back on the market," said Orphe Divounguy, a senior economist at Zillow. "Homes are staying on the market for a bit longer because the sales are not keeping up with the flow of homes coming on the market," Divounguy said. watch nowYet despite the recent jump in supply, "we're still starved for inventory in the for-sale market," said Divounguy. Homebuyers are waiting on lower mortgage ratesAs mortgage rates have remained high and housing affordability has strained household finances, buyers have been unable to jump in the market, Divounguy explained. While mortgage rates could "change pretty quickly" or "on a dime," said Fairweather, buyers are unlikely to see big movement in the near term.

Persons: Orphe Divounguy, Zillow, Divounguy, Redfin, Daryl Fairweather, We're, Fairweather, Freddie Mac, homebuyers, It's, there's Organizations: Zillow, Finance, Biden, Trump, Federal Reserve, Fed Locations: U.S, Dallas , Texas, Fort Lauderdale , Florida, Florida, Tampa, Jacksonville

☆ Lying on the floor can help you feel less overwhelmed. Here's how to do it and why it works.
▼ + stars: | 2024-06-10 | by ( Nandini Maharaj | ) www.businessinsider.com time to read: +6 min

On TikTok, floor time involves sitting or lying on the floor to soothe yourself. We asked experts what they think about floor time and how it can help if you're anxious or overwhelmed. Lying on the floor can help you block out external stimuli, allowing your body time to reset, Wood said. As you're lying on the ground, "make sure your knees are at a 90-degree bend to support your lower half," she said. Alternatives to this practiceWhether you call it floor time or a corpse pose, lying on the floor may not be an option.

Persons: —, Dally, Nicole Wood, Wood, you've, Daryl Appleton, EdD, Appleton, Nandini Maharaj Organizations: Service, sniffed, Business, Research

☆ How my family of 6 spent nearly $9,000 on a Disney vacation — and what we'll do differently next time
▼ + stars: | 2024-05-15 | by ( Daryl Austin | ) www.businessinsider.com time to read: +9 min

First off, driving instead of flying saved us a lot of moneyMy family added a road-trip component to our trip. Daryl AustinWe saved money by driving to Disney instead of flying. AdvertisementLastly, we saved money by cutting back on character-dining experiences and sharing most of our mealsOur family split meals at Disneyland when we could. In hindsight, this means we could've saved some serious money on tickets and food costs by cutting out our last two days at Disney. Otherwise, my wife and I will be dreading the next Disney vacation nearly as much as our kids will be eagerly anticipating it.

Persons: —, Daryl Austin, That's, we'd, we've, Dole, would've, could've, Daryl Austin Disney Organizations: Service, Universal Studios, Business, Marriott, Gas, Disney, we've, Disneyland, Minnie Locations: Utah, Southern California, California, Salt Lake City, Los Angeles, Las Vegas, Marriott Anaheim, Disneyland

☆ See aboard USS George Washington, an aircraft carrier with a checkered recent history
▼ + stars: | 2024-05-13 | by ( Lauren Frias | ) www.businessinsider.com time to read: +1 min

More mental health resourcesSailors depart for small boat operations in a rigid-hull inflatable boat assigned to the Nimitz-class aircraft carrier USS George Washington (CVN 73). US Navy photo by Mass Communication Specialist Seaman Wadelon PresleyThe Navy is taking strides to improve the quality of life for sailors aboard the Washington. Kellylynn Zuni, the GW's clinical psychologist, told Health News Florida that the permanent mental health staff on the ship has doubled, allowing them to see any sailor who needs immediate help. The Navy is also creating a psychiatrist intervention team to provide mental health care in emergencies. In February, the ship also opened a new rest and recreation area for sailors that includes a library, TV, videogames, computers, and phones to stay in contact with their families.

Persons: George Washington, Seaman Wadelon Presley, Adm, Daryl Caudle, Caudle Organizations: Nimitz, US Navy, Communication, Navy, Health News, Fleet Forces, USNI News Locations: Washington, Health News Florida

☆ High mortgage rates didn't put a lid on home prices, but soaring insurance costs might, real estate experts say
▼ + stars: | 2024-05-04 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

While high mortgage rates didn't bring prices down, steep insurance costs could put a lid on further appreciation. But there's an under-the-radar factor that could soon pull down home prices nationally, real estate experts told Business Insider — soaring home insurance costs. AdvertisementThe insurance costs usually come as a surprise to home buyers in those areas, Fairweather added. To Fairweather, it's more precise to say the rising insurance will make home values grow more slowly than they would have, as the robust demand still characterizes the current market. We take into account prices and mortgage rates and now rising insurance costs, but there's still people wanting to buy homes," she said.

Persons: —, Zillow, FRED, Daryl Fairweather, Fairweather, Danielle Hale, Hale, Jesse Keenan, Keenan, it's, homeownership, there's Organizations: Service, Business, Tulane University Locations: Florida, Texas, West, Louisiana

☆ Correction in Florida's housing market 'a bit overdue', says Redfin's Daryl Fairweather
▼ + stars: | 2024-05-01 | 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 EmailCorrection in Florida's housing market 'a bit overdue', says Redfin's Daryl FairweatherHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Redfin's Daryl Fairweather, Brian Sullivan, “ Organizations: CNBC

☆ Florida real estate struggles as ‘motivated’ sellers flood market
▼ + stars: | 2024-05-01 | by ( Taylor Craig | In | ) www.cnbc.com time to read: 1 min

Once a red-hot destination for out-of-state homebuyers, Florida is seeing its inventory of homes for sale skyrocket and price growth stagnate. "It was one of the only markets that actually sustained price growth after interest rates went up, so I think this correction is a bit overdue." According to Redfin, the median time a Florida home spent on the market was 57 days in March. "More new listings are coming on the market right now too." There are more than 5,600 active listings in Florida that include the keyword "motivated" in the description on Zillow .

Persons: Daryl Fairweather, CNBC's, Redfin, It's, Fairweather Locations: Florida

☆ Hybrid vehicles are the hottest thing in the market right now, says Group 1 Automotive CEO
▼ + stars: | 2024-04-24 | 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 EmailHybrid vehicles are the hottest thing in the market right now, says Group 1 Automotive CEODaryl Kenningham, Group 1 Automotive president and CEO, joins 'Squawk Box' to discuss the state of the auto market, price trends for new and used cars, consumer demand for EV and hybrid vehicles, and more.

Persons: Daryl Kenningham Organizations: EV

☆ FTC bans employers from using noncompete clauses
▼ + stars: | 2024-04-23 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

New York CNN —The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses. And – with one exception – it makes currently existing noncompete agreements unenforceable after the rule’s effective date, which is set at 120 days from the rule’s publication in the Federal Register. The rule, however, does allow currently existing noncompete agreements for senior executives to remain in force. The ban would apply nationwide, overriding state laws regarding noncompete agreements. In December of last year, New York State Governor Kathleen Hochul vetoed a bill passed by the state legislature to completely ban noncompete agreements in that state.

Persons: Joe Biden, “ won’t, ”, Stefanie Camfield, Daryl Joseffer, “, ” Joseffer, Neil Bradley, Kathleen Hochul, Anne Clark, Vladeck, Raskin, Clark P.C, Amanda Wait, DLA Piper, Clark Organizations: New, New York CNN, Federal Trade Commission, FTC, of Commerce, Federal Register, Washington , D.C, Engage, Chamber’s Litigation, New York Locations: New York, California, North Dakota, Oklahoma, Washington ,, Colorado , Maryland , Oregon, Rhode

☆ The housing shortage is getting no help from aging baby boomers
▼ + stars: | 2024-04-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

78% of home-owning baby boomers plan to age in their current homes, a Redfin survey found. Financial incentives are keeping boomers put, with current mortgage rates and home prices too high. That's not good news for housing supply, which is already dwindling at historic lows. Politicians should focus on expanding housing stock that meets the needs of older Americans, which could help with housing affordability and availability for all," Fairweather added. Prospective homebuyers could see some inventory relief as mortgage rates continue to gradually fall through this year, bringing back sellers.

Persons: boomers, —, Redfin, It's, millennials, Daryl Fairweather, aren't, Fairweather Organizations: Service

☆ A third of Gen Z and millennial homebuyers plan to use family money for a down payment amid sky-high housing costs
▼ + stars: | 2024-03-27 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

More than a third of Gen Z and millennial homebuyers anticipate their families to help with the cost, Redfin says. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNearly half of Gen Zers and millennials say they aren't keen on buying homes soon due to sky-high prices. "The bigger problem is that young Americans who don't have family money are often shut out of homeownership.

Persons: Gen Z, Redfin, —, Z, Zers, Daryl Fairweather, they're, " Fairweather Organizations: Service Locations: America

☆ Home price growth is back at pre-pandemic levels. Here's what that means for buyers and sellers
▼ + stars: | 2024-03-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

"We're back to that trend, despite these higher mortgage rates," she said. However, the market today is vastly different from the market two to eight years ago, experts say. The average home is still unaffordable for most potential buyers while inventory has slightly improved but not enough to meet demand. "The sentiment we're getting from our agents is that neither sellers nor buyers are satisfied with this market," Fairweather said. And buyers are disappointed in rising prices and rising mortgage rates."

Persons: Daryl Fairweather, Matthew Walsh, It's, Fairweather, Sellers Organizations: Finance, Moody's Locations: U.S

☆ Could First-Time Home Buyers Lose Out Under New Commission Rules?
▼ + stars: | 2024-03-25 | by ( Ronda Kaysen | Rukmini Callimachi | ) www.nytimes.com time to read: +1 min

With a landmark legal settlement poised to upend a decades-old norm that has dictated who pays real estate agents and how much, economists, agents and lenders are beginning to worry that the burden could now be on first-time home buyers. Buyers may soon have to pay out of pocket for something that had always been baked into the price. “First-time home buyers are usually the people who don’t have much cash and experience — and that experience matters,” said Daryl Fairweather, the chief economist of Redfin, the online brokerage that cut ties with the National Association of Realtors last year. The lawsuit was initially brought by home sellers in Missouri who accused N.A.R. of artificially inflating home prices by coupling commissions paid to sellers’ and buyers’ agents.

Persons: ”, Daryl Fairweather, Buyers, N.A.R Organizations: Redfin, National Association of Realtors Locations: Missouri

☆ They moved into floating homes and houseboats — and discovered a world of adventure and hidden expenses
▼ + stars: | 2024-03-25 | by ( Amanda Goh | ) www.businessinsider.com time to read: +10 min

Read previewMoving into their 360-square-foot floating home a year ago was a dream come true for Sarah Spiro and Brandon Jones. In 2023, there were 70 floating home sales reported on the Regional Multiple Listing Service, or RMLS, which covers the Portland area and a significant part of northwest Oregon, Portland Floating Homes real-estate broker John McPherson told BI. Lily and Dylan Rose moved onto their houseboat on Lake Union in Seattle in June 2019. AdvertisementHome insurance for a floating house tends to be about double what it is for a regular house on land, McPherson said. Additionally, the float — the part of the floating house that's equivalent to a foundation — deteriorates over time, McPherson said.

Persons: —, Sarah Spiro, Brandon Jones, Spiro, keepingafloatwiththejoneses Spiro, Jones, keepingafloatwiththejoneses, Adam Lind, @adam.floatinghome, It's, John McPherson, Lily, Dylan Rose, Elizabeth Earle, BI's Jordan Pandy, Earle, Elizabeth Earle Earle's, McPherson, Daryl Fairweather, Redfin's, Realtor.com, Hannah Jones, it's, Laura Woodley, Woodley, isn't, Kate Fincham, Fincham, Lily Rose, Dylan, Rose, she's Organizations: Service, Business, Portland Floating Homes, Realtor.com, Union, Trust, England & Wales, Lake Union Locations: Fontana Lake, North Carolina, Portland, Oregon, Seattle, Sausalito , California, Johns Island , South Carolina, England, Bluffers Park, Toronto, Lake, Boston

☆ Why buying a home isn't likely to get much cheaper even under Biden's housing plan
▼ + stars: | 2024-03-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Biden has a plan to make housing more affordable, but prices might be stuck in the stratosphere. "The effect on the housing affordability crisis is going to be muted. Some of Biden's housing affordability measures would fuel demand further at a time when supply is still historically tight, according to Lawrence Yun, the chief economist of NAR. But the problem with the housing market isn't really that there isn't enough money going toward housing. It's more the red tape and the local opposition that has been the biggest barrier to building housing," Fairweather said.

Persons: Biden, —, Joe Biden's, That's, Daryl Fairweather, Fairweather, Lawrence Yun, Yun, who's Organizations: Service, NAR, Department of Housing, Urban Locations: America

☆ A 71-year-old Californian explains why she's one of many boomers reluctant to sell their large homes and downsize — and it has nothing to do with money
▼ + stars: | 2024-03-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Like Frieden, they're having a hard time finding what they need on the market. Frieden says she's surprised developers aren't doing more to meet the demand, particularly at the higher end of the market. Empty-nest boomers now own twice as many large homes as millennials with kids do, according to a recent Redfin analysis. This is making it even harder for millennials and households with kids to break into the market or upsize their homes. AdvertisementThis misallocation of housing — and shortage of larger condos and apartments — will become increasingly urgent as boomers age in homes that aren't ideal — or even safe — for them.

Persons: Deborah Frieden, —, they've, Frieden, they're, they'd, Joe's, she's, I've, Daryl Fairweather Organizations: Service, BI Locations: Oakland , California, Lake Merritt, Frieden

☆ Most homeowners and renters say housing prices will factor into their vote for president, Redfin survey shows
▼ + stars: | 2024-03-11 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Over half of US owners and renters said housing prices will inform their vote for president, Redfin said. Soaring mortgage rates and prices have made it hard for Americans to buy property. President Biden recently unveiled proposals to boost housing affordability in the US. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . February saw mortgage rates inch back up, reversing course after a period of declines as markets adjusted expectations for rate cuts from the Federal Reserve.

Persons: Redfin, Biden, —, Daryl Fairweather Organizations: Service, Qualtrics, Federal Reserve Locations: November's

Biden unveiled a plan that includes tax credits and down payment assistance to improve housing affordability. Eligible homebuyers would get this tax credit for two years, meaning you could get a total of $10,000 in tax credits for buying a house. Down payment assistanceAnother piece of Biden's plan for more affordable homeownership is the $25,000 in down payment assistance he wants Congress to provide to first-generation homebuyers. What hopeful homebuyers should knowAs a whole, this plan could substantially improve housing affordability, enabling more Americans to become homeowners. And even for homebuyers who qualify for tax credits or other assistance, saving up for a down payment remains a big barrier to homeownership.

Persons: Biden, —, Dan Green, homebuyers Biden, hasn't, doesn't, Green, Daryl Fairweather, Fairweather, White, homebuyers Organizations: Biden, Service, Federal Housing Finance Agency, Consumer Financial, homebuilders, Loan, Program, Bank of America Mortgage, Democrats

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