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☆ This startup is 'greening' homebuilding
▼ + stars: | 2024-02-26 | 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 EmailThis startup is 'greening' homebuildingCNBC’s Diana Olick joins 'Power Lunch' to discuss how a startup company is helping American's make their homes greener.

Persons: Diana Olick, American's

☆ New home sales misses expectations to the downside
▼ + stars: | 2024-02-26 | 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 home sales misses expectations to the downsideCNBC's Rick Santelli and Diana Olick report on the latest economic news to cross the tape.

Persons: Rick Santelli, Diana Olick

☆ Existing home sales rose 3% to start the year, but higher mortgage rates are already hurting
▼ + stars: | 2024-02-22 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Sales of previously owned homes rose 3.1% in January to 4 million units on a seasonally adjusted annualized basis, according to the National Association of Realtors. The count is based on closings, so the contracts were likely signed in November and December, when mortgage interest rates backed off their October high of 8%. "Listings were modestly higher, and home buyers are taking advantage of lower mortgage rates compared to late last year." While lower mortgage rates helped boost January sales, today's higher rates are already once again weighing on the market. Correction: The 32% all-cash share of January 2024 home sales was up from 29% in January 2023.

Persons: Lawrence Yun, Yun, It's Organizations: National Association of Realtors, Mortgage News, NAR, Redfin

☆ Existing home sales rise 3.1% in January, beating expectations
▼ + stars: | 2024-02-22 | 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 EmailExisting home sales rise 3.1% in January, beating expectationsCNBC's Diana Olick reports on the latest economic data to cross the tape.

Persons: CNBC's Diana Olick

☆ Mortgage demand takes a massive hit as interest rates cross back over 7%
▼ + stars: | 2024-02-21 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage interest rates surged last week to the highest level since early December, and that hit mortgage demand hard. "Potential homebuyers are quite sensitive to these rate changes, as affordability is strained with both higher rates and higher home values in this supply-constrained market," Fratantoni added. With rates higher, the adjustable-rate mortgage (ARM) share of activity increased to 7.4% of total applications. ARMs offer lower interest rates but are considered more risky because they can adjust higher after a fixed period. Mortgage rates jumped even higher Friday after a monthly government report on wholesale prices showed inflation is still persistent and hotter than most analysts had expected.

Persons: Mike Fratantoni, Fratantoni Organizations: Woodland, Lifestyle Homes, Mortgage Locations: Cold Springs , Nevada

☆ Mortgage rates shoot to 2-month high after new report shows inflation is still hot
▼ + stars: | 2024-02-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. Mortgage rates shot higher Friday after a monthly government report on wholesale prices showed inflation is still persistent and hotter than most analysts had expected. Mortgage rates hit their last high in October but then fell sharply over the next two months, leveling out at around 6.6% in December. In February's report, builders said they expected mortgage rates to continue to moderate in the coming months. "And while mortgage rates still remain too high for many prospective buyers, we anticipate that due to pent-up demand, many more buyers will enter the marketplace if mortgage rates continue to decline this year."

Persons: Matthew Graham, Alicia Huey Organizations: Mortgage News, . Census, National Association of Home Builders Locations: Albany , California, Birmingham , Alabama

☆ Digital Realty CEO on mixed earnings report
▼ + stars: | 2024-02-16 | 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 on mixed earnings reportAndrew Power, Digital Realty CEO, and CNBC's Diana Olick join 'The Exchange' to discuss the financial health of Digital Realty, operating a business in the current economic environment, and more.

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

☆ A look at America's first car-free city
▼ + stars: | 2024-02-14 | 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 EmailA look at America's first car-free cityCNBC’s Diana Olick joins 'Power Lunch' to report on America's first car-free city.

Persons: Diana Olick

☆ Mortgage rates surge higher again, causing homebuyers to pull back
▼ + stars: | 2024-02-14 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

After a brief reprieve in December and January, mortgage rates are moving higher again, and that is taking its toll on mortgage demand. Total mortgage application volume fell 2.3% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. "That's because mortgage rates are climbing again and winter weather has been harsher than usual in much of the country, keeping some house hunters at home." Mortgage rates surged even higher Tuesday after a government report on inflation showed it was still stubbornly higher than expected. "The bond market (which underlies mortgage rates) reacted immediately and forcefully when the numbers came out.

Persons: Joel Kan, Chen Zhao, Bonds, Matthew Graham Organizations: Mortgage, Mortgage News Locations: Pico Rivera , California, Redfin

☆ Weekly mortgage demand from homebuyers is flattening as interest rates rise
▼ + stars: | 2024-02-07 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage demand is struggling to contend with what appears to be another upswing in interest rates. Total mortgage application volume rose 3.7% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Together, those two jumps made for the third-biggest increase in mortgage rates since March 2020. The refinance share of mortgage activity increased to 35.4% of total applications from 34.2% the previous week. Mortgage rates fell back slightly on Tuesday, but the move higher was an adjustment to surprisingly strong economic data, according to Matthew Graham, chief operating officer at Mortgage News Daily.

Persons: Joel Kan, Matthew Graham, They've Organizations: Mortgage, U.S . Labor Department, Mortgage News Daily, Mortgage News, CNBC PRO

☆ Investing in plant-based pet food
▼ + stars: | 2024-02-05 | 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 EmailInvesting in plant-based pet foodCNBC's Diana Olick joins 'Power Lunch' to report on companies investing in plant-based pet food.

Persons: Diana Olick

☆ Mortgage rates jump back over 7% as stronger economic data rolls in
▼ + stars: | 2024-02-05 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Mortgage rates have been on a wild ride since the summer, briefly crossing to a 20-year high of 8% in October. Mortgage rates do not follow the Fed directly, but they follow loosely the yield on the 10-year Treasury, which is heavily influenced by the central bank's impression of the economy at any given time. As mortgage rates fell over the past two months, buyers seemed to be returning to the market. Mortgage applications to purchase a home had been rising steadily, but fell back in the last few weeks, as mortgage rates edged higher. "If we see more data like last Friday's jobs report, rates will have a hard time getting back below 7%.

Persons: Li Jianguo, Matthew Graham, Michael Fratantoni, Graham Organizations: National Association of Realtors, Getty, Mortgage News, Federal, Treasury, Fed, Mortgage, Association . Mortgage, CNBC PRO Locations: Millbrae , California, United States, Xinhua

☆ Weekly mortgage demand drops as buyers struggle to find affordable homes
▼ + stars: | 2024-01-31 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

After rising for several weeks, mortgage demand fell last week as buyers faced increased competition for a limited supply of homes. Total mortgage application volume fell 7.2% compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Lower mortgage rates are putting more pressure on home prices, and are bringing more buyers into the market, increasing competition. Mortgage rates have barely moved in the last two weeks, but that could soon change. Friday's monthly employment report could also impact markets and swing mortgage rates in either direction depending on what it says about the broader economy.

Persons: Joel Kan, Matthew Graham Organizations: Mortgage, Federal Reserve, Mortgage News Locations: Clarksburg , Maryland

☆ Home prices began to cool in November after nine straight months of gains, S&P Case-Shiller says
▼ + stars: | 2024-01-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Home prices in November fell 0.2% from October, according to the S&P CoreLogic Case-Shiller national home price index. Prices nationally were still higher than the year before, and those annual gains increased again relative to the prior month. They rose 5.1% from November 2022, up from a 4.7% annual increase in October. "The rate has since fallen over 1%, which could support further annual gains in home prices." Prices rose 8.2% in November, followed again by San Diego with an 8% increase.

Persons: Freddie Mac, Brian Luke, Luke Organizations: Federal Reserve, Detroit, Midwest Locations: Lake Pointe Subdivision, Austin , Texas, Seattle, San Francisco, Miami, Tampa, Atlanta, Charlotte , New York, Cleveland, San Diego, Portland , Oregon

☆ Homebuyer demand pushes mortgage applications higher, even as interest rates inch up again
▼ + stars: | 2024-01-24 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Mortgage rates rose slightly last week, but that did not seem to deter homebuyers who have come back after the holidays. Mortgage applications to purchase a home rose 8% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Demand, however, was still 18% lower than the same week one year ago, when rates were lower. "Mortgage rates increased slightly last week, but there continues to be an upward trend in purchase activity," said Joel Kan, an MBA economist, in a release. Mortgage rates moved higher at the start of this week, although there appears to be no particular reason for the increase.

Persons: homebuyers, Joel Kan Organizations: Mortgage, Mortgage News, CNBC PRO Locations: Alhambra , California

☆ December home sales slump to close out worst year since 1995
▼ + stars: | 2024-01-19 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Sales were 6.2% lower than in December 2022, marking the lowest level since August 2010. Full-year sales for 2023 came in at 4.09 million units, the lowest tally since 1995. Regionally, on a month-to-month basis, sales were unchanged in the Northeast and fell 4.3% in the Midwest. There were 1 million homes for sale at the end of December, making for a 3.2-month supply at the current sales pace. Individual investors, who make up a large share of all-cash sales, bought 16% of homes, down from 18% in November.

Persons: Lawrence Yun, Danielle Hale Organizations: National Association of Realtors, Midwest ., Mortgage News, Homes Locations: Northeast, West

☆ Consumer sentiment jumps to 78.8, the best level since July '21
▼ + stars: | 2024-01-19 | 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 EmailConsumer sentiment jumps to 78.8, the best level since July '21CNBC's Diana Olick and Rick Santelli report on the latest economic data.

Persons: Diana Olick, Rick Santelli

☆ Homebuilder sentiment improves for second straight month, following drop in mortgage rates
▼ + stars: | 2024-01-17 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Homebuilder sentiment improved in January, jumping 7 points to 44 on the National Association of Home Builders monthly index. Anything below 50 is still considered negative, but the index has now moved 10 points higher in the last two months. The increase coincides with a big drop in mortgage interest rates from around 8% in mid-October to the 6% range in December. Regionally, on a three-month moving average, builder confidence increased the most in the Northeast, the only area now in positive territory at 55. Sentiment was flat in the Midwest and rose slightly in the South and West.

Persons: Alicia Huey Organizations: National Association of Home Builders, Builders Locations: Birmingham , Alabama, Midwest, South, West

☆ Homebuilder sentiment improves for second straight month
▼ + stars: | 2024-01-17 | 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 improves for second straight monthCNBC's Rick Santelli and Diana Olick report on the latest economic data to cross the tape.

Persons: Rick Santelli, Diana Olick

☆ Mortgage demand surges more than 10% as lower interest rates lure homebuyers
▼ + stars: | 2024-01-17 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

(Photo by ROBERTO SCHMIDT / AFP) (Photo by ROBERTO SCHMIDT/AFP via Getty Images)Another drop in mortgage interest rates caused a run on loans last week. Mortgage rates were about half a percentage point (52 basis points higher) one year ago. Nakita Bell, who is currently renting in Detroit, said the recent drop in rates prompted her to consider buying. Lower rates are also giving some current homeowners an opportunity to save money. While the vast majority of current borrowers have rates lower than those offered today, the recent drop is still having some effect on those whose loans carry higher rates.

Persons: Homeownership, Joe Biden, ROBERTO SCHMIDT, Joel Kan, Nakita Bell, I'm Organizations: AFP, Getty, Mortgage Locations: Clarksburg , Maryland, Detroit

☆ Mortgage demand jumps nearly 10% to start the year, even as interest rates tick up again
▼ + stars: | 2024-01-10 | 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. Real estate agents, however, say they are starting to see a new surge in demand from buyers who were sidelined by the higher rate environment. More consumers also said they expect mortgage rates to fall further, according to a recent report from Fannie Mae. Mortgage rates increased again slightly to start this week, but remain in the 6% range. If it is higher than expected, signaling there is more to do to curb inflation, mortgage rates could move up even more.

Persons: Joel Kan, Fannie Organizations: Mortgage, New, CNBC PRO Locations: Hercules , California, Fannie Mae

☆ Home prices are surging — and Detroit gained the most in November, beating Miami for the first time
▼ + stars: | 2024-01-09 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Home prices are rising faster and faster each month, fueled by a decline in mortgage rates. Areas seeing year-over-year price declines in November were Idaho (-1.3%); Utah (-0.4%); and Washington, D.C. (-0.2%). The lower the mortgage rate, the greater the buying power for consumers. While prices are expected to soften slightly later next year, much of that will depend on supply. At current low supply levels and demand increasing due to lower mortgage rates, for now at least, prices have nowhere to go but up.

Persons: Selma Hepp, CoreLogic Organizations: Northeast, Rhode, D.C Locations: Connecticut, New Jersey, Idaho, Utah, Washington

☆ National Association of Realtors president says she is resigning after blackmail threat
▼ + stars: | 2024-01-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The president of the National Association of Realtors on Monday said she was resigning due to a blackmail threat that sought to "compromise" her leadership role. NAR President Tracy Kasper said she had notified the group's leadership team "that she recently received a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR." President-elect Kevin Sears will immediately step into the post at the group, which represents more than 1.5 million members working in the residential and commercial real estate industries. and the majority owner of two other real estate companies in the state, according to her NAR bio. Also, the article was updated to reflect that Kasper wasn't president of the NAR in 2016.

Persons: Tracy Kasper, Kasper, Kevin Sears, Kenny Parcell, Bob Goldberg, Berkshire Hathaway, Silverhawk, CNBC's Diana Olick, Kasper wasn't Organizations: National Association of Realtors, NAR, New York Times, CNBC PRO Locations: Berkshire, Boise Valley , Idaho

☆ This startup is removing carbon from the air — and here's why JetBlue is backing it
▼ + stars: | 2024-01-08 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

One of the newest and fastest-growing weapons in the fight against global warming is technology to remove carbon dioxide from the atmosphere, known as direct air capture. Direct air capture is already a growing business, and governments around the world are adding to it, providing tax incentives and grants to help spur the industry forward. Some of the first firms to do it, such as Climeworks and Carbon Capture, use massive fans in the process. Similar to other direct air capture companies, Avnos is benefiting from both government tax credits and direct funding. In addition to JetBlue Ventures, Avnos is backed by Shell Ventures, the Grantham Foundation's Neglected Climate Opportunities Fund and Rusheen Capital Management.

Persons: it's, Will Kain, Avnos, Kain, Amy Burr Organizations: JetBlue Ventures, Avnos, Shell Ventures, Rusheen Capital Management, CNBC PRO Locations: California, Grantham, VCs

☆ Mortgage rate decline pulls buyers back into the housing market
▼ + stars: | 2024-01-08 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

watch nowA sharp drop in mortgage interest rates in December may have kickstarted this year's spring housing market early. Optimism about mortgage rates increased sharply in December, according to a monthly consumer survey by Fannie Mae. "This significant shift in consumer expectations comes on the heels of the recent bond market rally," said Palim. "Notably, homeowners and higher-income groups reported greater rate optimism than renters." The average rate on the 30-year fixed has been on a wild ride since the start of the Covid pandemic.

Persons: Fannie Mae, Mark Palim, Ryan Paredes, Ariadna Paredes, Ryan Ratliff, Joe Raedle, Paul Legere Organizations: Max Advance Realty, Getty, . Washington , D.C Locations: Cutler Bay , Florida, . Washington ,

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