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Diana Olick - 9 Joel Kan - 6 Matthew Graham - 4 Lawrence Yun - 4 Yun - 2 We've - 2 It's - 2 it's - 2
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Mortgage - 6 CNBC PRO - 5 National Association of Realtors - 5 Mortgage News - 5 Federal Reserve - 2 ICE Mortgage Technology - 2 CNBC - 2 Treasury - 2

Search resuls for: "Diana Olick"


25 mentions found


☆ Mortgage demand down 9.4% for final week of 2023, despite recent drop in interest rates
  + stars: | 2024-01-03 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Mortgage demand ended 2023 on a sour note, despite a sharp drop in mortgage interest rates during December. Total application volume was down 9.4% for the week ended Dec. 29, compared with two weeks earlier, according to the Mortgage Bankers Association's seasonally adjusted index. The average rate on the 30-year fixed ended the year at 6.76%, lower than where it was two weeks ago, but higher than it was a week ago. The builders are a bright spot, especially because they can buy down mortgage rates, but new homes do come at a price premium. Mortgage rates started this week higher after also edging up on Friday.
Persons: Joel Kan, refinanced, Matthew Graham Organizations: Mortgage, Federal Reserve, Mortgage News Daily, Reserve, CNBC PRO Locations: Miami , Florida
☆ Mortgage demand should increase in 2024, says ICE's Andy Walden
  + stars: | 2024-01-03 | 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 EmailMortgage demand should increase in 2024, says ICE's Andy WaldenAndy Walden, vice president of enterprise research at ICE Mortgage Technology, and CNBC's Diana Olick join 'The Exchange' to discuss the state of mortgage demand, the overall health of housing, and more.
Persons: Andy Walden Andy Walden, Diana Olick Organizations: Email Mortgage, ICE Mortgage Technology
☆ November pending home sales were unchanged, despite a sharp drop in mortgage rates
  + stars: | 2023-12-28 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +1 min
Mortgage rates are key in this report, with the average rate on the 30-year fixed mortgage soaring over 8% in mid-October before dropping sharply to 7.5% in the first week of November, according to Mortgage News Daily. Analysts had expected the drop to cause a slight gain in pending sales, but apparently it wasn't enough, given steep home prices and tight supply. Regionally, pending sales rose 0.8% month over month in the Northeast and 0.5% in the Midwest. Mortgage rates are now solidly in the mid-6% range, but the supply of homes for sale is still very low. "With mortgage rates falling further in December – leading to savings of around $300 per month from the recent cyclical peak in rates – home sales will improve in 2024," Yun added.
Persons: Lawrence Yun, –, Yun Organizations: National Association of Realtors, Mortgage News, Midwest ., Builders, CNBC PRO
☆ Nashville's real estate boom has builders scrambling and residents facing sky high prices
  + stars: | 2023-11-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +6 min
The Nashville building boom is in full effect, despite higher interest rates, higher home prices and a weaker national economy. During the Great Recession after the 2008 financial crisis, workers were looking for an urban vibe but with cheaper housing. While home prices nationally are up 47% from the start of the pandemic, Nashville prices are up 55%, according to ICE Mortgage Technology. "What we're seeing housing prices and rents go to is very foreign to what they would call affordable," said Eldridge. Gallagher has been working in Nashville's commercial real estate sector since moving to the city over a decade ago.
Persons: We've, John Eldridge, Eldridge, John Burns, CNBC he's, haven't, It's, Madison Cartularo, I've, Cartularo, Janelle Gallagher, Nashville . Gallagher, she's, that's, Gallagher, Bill Lee Organizations: Istock, Getty Images Nashville, E3 Construction, John Burns Research, Consulting, CNBC, Nashville, ICE Mortgage Technology, ICE, CBRE Locations: Nashville , Tennessee, Nashville, Los Angeles, Redfin, United States, New Yorker, Tennessee
☆ Pending home sales drop to a record low, even worse than during the financial crisis
  + stars: | 2023-11-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +1 min
Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since the National Association of Realtors began tracking this metric in 2001, meaning it's even worse than readings during the financial crisis over a decade ago. Because the index measures signed contracts, it is the most recent indicator of housing demand. The realtors continue to say it's not just high rates but still very low supply of homes for sale that is deflating activity. The Realtors noted that sales of homes priced above $750,000 have been increasing simply because there is more supply on the high end of the market.
Persons: it's, Lawrence Yun Organizations: National Association of Realtors, Mortgage News, The realtors, NAR, Realtors Locations: Northeast
☆ Mortgage demand from homebuyers gets a boost as interest rates continue to fall
  + stars: | 2023-11-29 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Mortgage rates fell last week for the fourth time in five weeks, and homebuyers appear to be responding. That left total mortgage application volume essentially flat last week, up just 0.3% from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Mortgage applications to purchase a home rose 5% for the week but were still 19% lower than the same week one year ago. Mortgage rates are now 88 basis points higher than they were a year ago, but most current homeowners refinanced when rates were at record lows two years ago. "With rates already at two-month lows last week, the result is gentle descent to slightly lower two-month lows."
Persons: Joel Kan, Matthew Graham, Graham Organizations: Mortgage, Mortgage News, CNBC PRO Locations: refinance
☆ Home prices kept rising even as mortgage rates surged, S&P Case-Shiller says
  + stars: | 2023-11-28 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +1 min
Higher mortgage rates appear to be doing very little to cool home prices. Nationally, prices were 3.9% higher in September compared with the same month a year earlier, up from a 2.5% annual gain in August, according to the S&P CoreLogic Case-Shiller Index. "We've commented before on the breadth of the housing market's strength, which continued to be impressive," Craig Lazzara, managing director at S&P DJI, said in a release. "Although this year's increase in mortgage rates has surely suppressed the quantity of homes sold, the relative shortage of inventory for sale has been a solid support for prices." "Unless higher rates or exogenous events lead to general economic weakness, the breadth and strength of this month's report are consistent with an optimistic view of future results," Lazzara added.
Persons: We've, Craig Lazzara, DJI, Lazzara Locations: Detroit, San Diego, New York, Las Vegas, Phoenix, Portland , Oregon
☆ Mortgage rates will settle around five and a half to six percent, says Moody’s Analytics' Mark Zandi
  + stars: | 2023-11-27 | 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 EmailMortgage rates will settle around five and a half to six percent, says Moody’s Analytics' Mark ZandiMark Zandi, chief economist at Moody’s Analytics, and CNBC's Diana Olick join 'The Exchange' to discuss affordability concerns in the real estate market, when inventory will settle and more.
Persons: Zandi Mark Zandi, Diana Olick Organizations: Moody’s
☆ New home sales were weaker than expected in October
  + stars: | 2023-11-27 | 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 EmailNew home sales were weaker than expected in OctoberCNBC's Rick Santelli and Diana Olick report on the latest new home sales data.
Persons: Rick Santelli, Diana Olick
☆ Mortgage demand jumps to six week high as interest rates continue to drop
  + stars: | 2023-11-22 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Total application volume increased 3% last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Most mortgage rates in our survey decreased, with the 30-year fixed mortgage rate decreasing to the lowest rate in two months," said Joel Kan, MBA's deputy chief economist. Applications to refinance a home loan increased 2% for the week and were just 4% lower than the same week one year ago. Applications for a mortgage to purchase a home increased 4% week to week but were still 20% lower than one year ago. Mortgage rates moved slightly lower this week, but analysts are not expecting any major moves in the near future.
Persons: Joel Kan, Kan, Matthew Graham Organizations: U.S . Mortgage, Mortgage, National Association of Realtors, Mortgage News Locations: Columbus , Ohio, U.S
☆ Home sales fell to a 13-year low in October as prices rose
  + stars: | 2023-11-21 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
The October sales count is based on closings from contracts likely signed in August and September. At the end of October there were 1.15 million homes for sale, down 5.7% from a year earlier. Sales fell in all price categories up to $750,000, but there was an increase in sales of higher end homes. Yun also noted that there are more homes available for sale on the higher end of the market. First-time buyers represented 28% of October sales, unchanged from a year ago and still significantly lower than the 40% share they have represented historically.
Persons: Lawrence Yun, Yun Organizations: National Association of Realtors
☆ Look inside this startup's self-propelled RV, as camping goes electric
  + stars: | 2023-11-20 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
The $50 billion travel trailer industry is finally hitching up to the electric vehicle ecosystem. As more Americans move to electric cars, the trailer industry has to evolve because the towing runs down the battery quickly. The drag on battery power can make towing an RV long distances with an EV prohibitive. In addition to UpHonest, Pebble is backed by Lightspeed and Vision Plus. With the solar and battery power, the Pebble makers say it can live off the grid for seven days, without propane or a generator required.
Persons: Bingrui Yang, Ellen Ma, Yang, —, Lisa Rizzolo Organizations: Pebble Mobility, Mobility, Apple, UpHonest, Lightspeed, Vision, CNBC PRO Locations: Winnebago, California
☆ Homebuilder sentiment drops to lowest point in a year, but falling rates spur some optimism
  + stars: | 2023-11-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
High mortgage rates continue to weigh on the nation's homebuilders, leading to an increase in price cuts to lure buyers. But builders are cautiously optimistic about recent signs that interest rates may move lower soon. Homebuilder sentiment fell six points to 34 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Sentiment is down 22 points since July and is now at the lowest level since the end of last year. "In particular, the 10-year Treasury rate moved back to the 4.5% range for the first time since late September, which will help bring mortgage rates close to or below 7.5%," he said.
Persons: Alicia Huey, Robert Dietz, NAHB's Organizations: National Association of Home Builders, Market, Treasury Locations: Wells Fargo
☆ Homebuilder sentiment drops to lowest point in a year
  + stars: | 2023-11-16 | 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 EmailHomebuilder sentiment drops to lowest point in a yearCNBC's Diana Olick joins 'Squawk on the Street' to report on the latest data on home builder sentiment, which has been at the lowest level since the end of last year.
Persons: Diana Olick
☆ Mortgage demand climbs to the highest level in five weeks after interest rates move lower
  + stars: | 2023-11-15 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Current homeowners and potential homebuyers are responding to lower mortgage rates, albeit slowly. Mortgage demand rose 2.8% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. "Although Treasury rates dipped midweek, mortgage rates were little changed on average through the week," said Joel Kan, MBA's vice president and deputy chief economist. Most borrowers carry much lower interest rates due to the record low rates seen during the first few years of the Covid-19 pandemic. Lower rates may help a little, but still-rising home prices and the still-low supply of homes are bigger hurdles for today's potential buyers.
Persons: Joel Kan Organizations: Mortgage
☆ Cooler monthly inflation report pushes mortgage rates even lower
  + stars: | 2023-11-14 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
The drop was due to a sharp bond market rally, after the government's monthly inflation report came in lower than analysts had predicted. As bond yields fell, so too did mortgage rates, which loosely follow the yield on the 10-year Treasury . Mortgage rates had already been declining from their recent highs. The 30-year fixed mortgage rate jumped over 8% on Oct. 19, the highest level in more than two decades. "The interest rate rises should be over, and the Fed will have to consider cutting interest rates seriously.
Persons: Matthew Graham, Lawrence Yun Organizations: Mortgage News, Treasury, National Association of Realtors, CNBC PRO Locations: Chatsworth, Los Angeles , California
☆ Amazon will buy solar energy from a repurposed coal mine in Maryland
  + stars: | 2023-11-13 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +3 min
Amazon will buy renewable energy from a solar project in Garrett County, Maryland, that is being built on a brownfield — the former site of a 120-year-old coal mine. Amazon will use the new facility to power its Amazon Web Services (AWS) data centers as well as fulfillment centers and physical stores. The former coal site, which had to be cleaned of toxins, is particularly attractive because it already has access to an energy interconnection and substations. Amazon is the largest corporate purchaser of renewable energy since 2020, according to the company. Turning the former coal site into a solar farm "is a metaphor for the energy transition," Sahlstrom added.
Persons: Nat Sahlstrom, Sean Finnerty, Finnerty, Amazon's Sahlstrom, Sahlstrom Organizations: Amazon, Web Services, Power Ventures, Renewable Energy, CPV Locations: Garrett County , Maryland, U.S, Maryland
☆ Camping goes electric
  + stars: | 2023-11-13 | 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 EmailCamping goes electricCNBC’s Diana Olick joins 'Power Lunch' to discuss how camping is going electric.
Persons: Diana Olick
☆ Mortgage rates plunge and demand finally inches back
  + stars: | 2023-11-08 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +1 min
Mortgage rates saw the biggest one-week drop in over a year last week, causing the first increase in mortgage demand in a month. Total mortgage application volume rose 2.5% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Mortgage rates are pretty close to where they were at this time last year, so there is not a lot of incentive to refinance. Mortgage rates started the week slightly higher, but this week holds fewer economic events or reports that would influence rates. Last week's combination of the Federal Reserve's pause on interest rates and a lower-than-expected monthly employment report was the perfect storm for the dramatic move lower in rates.
Persons: Joel Kan Organizations: Mortgage, U.S
☆ Mortgage rates begin to fall: Here's what you need to know
  + stars: | 2023-11-06 | 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 EmailMortgage rates begin to fall: Here's what you need to knowCNBC's Diana Olick reports on the latest news on mortgage rates.
Persons: Diana Olick
☆ Home prices remain steady despite rising mortgage rates
  + stars: | 2023-11-01 | 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 EmailHome prices remain steady despite rising mortgage ratesMark Zandi, Moody's Analytics chief economist, and CNBC's Diana Olick join 'The Exchange' to discuss mortgage rates creating a lack of home supply, home prices increasing for seven months, and homebuilders investing in built-for-rent homes.
Persons: Mark Zandi, Diana Olick
☆ Adjustable-rate mortgage demand jumps nearly 10% as buyers struggle to afford housing market
  + stars: | 2023-11-01 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +1 min
As mortgage rates hover near the highest level in more than two decades, homebuyers are turning to riskier mortgage products to help them get into a home. The ARM share of mortgage applications is now at the highest level in nearly a year. Applications for a mortgage to purchase a home dropped 1% for the week and were 22% lower year over year. Purchase applications decreased to their lowest level since 1995 and refinance applications to the lowest level since January 2023," Kan added. Markets now await news from the Federal Reserve on Wednesday to see if there will be any relief from higher interest rates.
Persons: Joel Kan, Kan Organizations: Mortgage, Association, ARM, Federal Reserve
☆ Home price remains steady amid demand, despite rising mortgage rates
  + stars: | 2023-10-31 | 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 EmailHome price remains steady amid demand, despite rising mortgage ratesCNBC’s Diana Olick joins 'Power Lunch' to discuss rising mortgage rates impact on the housing sector.
Persons: Diana Olick
☆ Shipping industry could lose $10 billion a year battling climate change by 2050
  + stars: | 2023-10-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +4 min
It is just the latest in a growing number of disruptions hitting the shipping industry as it battles the effects of climate change. A similar reduction in 2019 cost global shipping as much as $370 million, according to a study by RTI International. "We firmly believe that climate change poses a great threat to the shipping industry and the consumer overall. The impacts of climate change on ports alone, from damage to disruption, could cost the shipping industry up to $10 billion annually by 2050 and up to $25 billion per year by 2100, according to the RTI study, which was reviewed by the Environmental Defense Fund. Of all the transportation sectors, shipping is one of the most vulnerable to the effects of climate change.
Persons: Narin Phol, Phol, Hakan Agnevall, Agnevall, It's, it's, Erica Posse Organizations: U.S . Army Corps of Engineers, RTI International, Maersk, North, RTI, Environmental Defense Fund, Wartsila, Shipping, CNBC Locations: Mississippi, Vicksburg , Mississippi, Panama, Vancouver, Canada, North America, Paris
☆ Climate crisis may cost shipping billions by 2025
  + stars: | 2023-10-30 | 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 EmailClimate crisis may cost shipping billions by 2025CNBC's Diana Olick joins 'Power Lunch' to discuss the rising risks of droughts on the global shipping industry.
Persons: Diana Olick
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