here now on set, Noble Black, broker at Douglas Elellman Noble. Good to have you on. Thanks for having me.All right, so we were just talking about New York and some of the craziness around here. What's happening nationally. Because let's be I mean New York City, we're slightly does not reflect Cleveland.Sure, we're our own market. Um you know, nationally, it's still a story of different markets. So what's happening in the Sunbolt is different from what's happening in the Northeast, different from what's hap ...

New home sales data out last hour. The number came in at 652,000 for the month of July. Stronger than expected, but still it's an 8.2% decline yearon year.A trend our next guest says benefits the rental market in particular because high home prices are sending more Americans looking for alternative options. Joining us now with his outlook, Invitation Home CEO Dallas Tanner. Dallas, it's good to talk to you today.All right. So, you have these new homes start that are are it looks it looks great. It looks lik ...

Market Trends & Dynamics - The housing market is experiencing a slowdown, with home sales at the slowest summer pace in a decade [1] - This slowdown is attributed to higher buying costs and economic uncertainty, prompting homeowners, especially seniors, to stay put [1] - Existing home sales are projected to be the worst in over 25 years due to high prices, high rates, and seniors not moving [10] - A significant portion (60%) of US homes are owned by seniors, contributing to the "stuck" real estate market [9] Home Equity Lines of Credit (HELOC) - Home equity lines of credit (HELOC) have reversed a 17-year shrinking trend and are now the fastest-growing consumer loan category [3][4] - The HELOC market has grown from approximately $200 billion to $250 billion after bottoming out [4] - Private credit firms are actively pursuing HELOCs, with over $42 billion in reported forward purchase agreements for home equity and personal loans, potentially double that amount unreported [5][6] - 41% of all home equity debt is held by seniors, up from 17% in 2000 [11][12] Company Performance & Opportunities - Rocket Companies' home equity business is up over 70% from last year [6] - Mr Cooper's home equity activity is more than double last year [6] - SoFi is experiencing strong growth in its home equity and personal loan businesses, with over $12 billion in forward purchase agreements [7][8] - Home Depot reported strong earnings, indicating homeowners are undertaking renovations by tapping into their home equity [17] Risk Assessment & Consumer Behavior - Home equity loans are currently a relatively cheap form of debt, second only to mortgages [14] - Loan-to-value ratios are significantly lower than during the last housing crisis, averaging just over 20% compared to over 50% [15] - Seniors are tapping into home equity to offset rising homeownership costs, such as property insurance (up over 70% in the last 5 years) and property taxes [12][13] - Increased HELOC usage may be impacting credit card growth, with subprime credit card issuers potentially facing revenue challenges [20][21]

Welcome back. We're watching some big moves in the housing space. Diana Olic is here with more on that.Hi, Diana. Hey, Mike. Yeah, for builders, it's all about the mortgage rates. And today, it's the potential for even lower mortgage rates that has the stocks rallying.The average rate on the 30-year fix fell to 65.55% this morning, according to Mortgage News Daily. That's the lowest since October. Now, it has been on the lower side all month, but really struggling to break out over the last few weeks.Today' ...

Trying to decide whether it’s better to buy now, or if mortgage rates will drop later this year or in 2026? Forecasts from six experts offer some insights. https://t.co/J6G2kLvw3R ...

Mortgage rates in the US held steady after four weeks of declines. The average for 30-year, fixed loans was 6.58%, unchanged from last week https://t.co/uHGfMx6jNl ...

Core Insights - Freddie Mac's Primary Mortgage Market Survey indicates that the 30-year fixed-rate mortgage (FRM) averaged 6.58% as of August 21, 2025, remaining unchanged from the previous week [1][5] - The 30-year FRM has increased from 6.46% a year ago, while the 15-year FRM averaged 5.69%, slightly down from 5.71% last week [5] - The survey highlights that purchase applications are outpacing those from 2024, although many homebuyers are still waiting for further rate decreases [1] Mortgage Rate Trends - The 30-year FRM has remained flat this week at 6.58% [1][5] - The 15-year FRM has decreased to 5.69% from 5.71% the previous week [5] - Year-over-year comparison shows the 30-year FRM increased from 6.46% and the 15-year FRM increased from 5.62% [5] Freddie Mac's Mission - Freddie Mac aims to enhance liquidity, stability, and affordability in the housing market across various economic cycles [3] - Since its inception in 1970, Freddie Mac has assisted millions of families in buying, renting, or maintaining their homes [3]

Mike, it's great to see you. So, a little bit of good, a little bit of bad here. The stock is going up.What was your read on the numbers. Yeah, the the miss was really small. Uh, you know, the same sort of sales missed by like 10 basis points and it was the best comp that they've had in about two years.A lot of the underlying metrics are showing, you know, better demand, not where we were, you know, many years ago during the pandemic, but but certainly a lot better than the post-pandemic era. And again, the ...

Home Depot reporting its first earnings miss on both the B bottom and top line since May 2014, but stocks trading higher after maintaining its fullear outlook. Other major retail reports on deck this week. We've got Target, Lowe's, TJ Maxx tomorrow, and then Walmart on Thursday.Joining us now is DA Davidson, senior analyst, Michael Baker. Michael, it it's good to have you. Did you see a reason to buy in this report.Sure. Yeah, although uh it was a little bit light of expectations. Uh the comps were only lik ...

Housing Market & Interest Rates - Lowering the Fed rate might help consumers buy homes by injecting liquidity into the market, but other factors complicate the situation [1] - Mortgage rates are based on the 10-year yield, not the Fed funds rate; rate cuts don't automatically translate to cheaper mortgages [2][3] - Last year, Fed rate cuts spurred expectations for growth and inflation, pushing up the 10-year yield and hurting housing [3] - The belief that Fed cuts automatically lead to cheaper mortgages is not universally held; while it often happens, it didn't last year [4] Inflation & Monetary Policy - Higher and stickier inflation changes how the 10-year yield reacts to policy changes; bonds may not behave the same way to Fed cuts as in the past 20 years due to a different inflationary environment [5][6] - Equities are potentially a better inflation hedge than bonds, questioning bonds' role as a diversifier [6] - The labor market is showing signs of softening, which could lead to the Fed cutting rates and potentially pulling down long-term yields and inflation [8][9] Labor Market & AI Impact - 34% of CEOs surveyed by the Conference Board expect job cuts in the next 12 months, the first time those expecting cuts outnumbered those expecting to hire since COVID [8] - Companies are expected to accelerate job cuts to control costs [9] - Companies are investing in AI and training their staffs, but the timing and degree of AI's disinflationary impact are uncertain [10][11] - Companies are pressured to invest in AI, which requires upfront spending and may lead to headcount reductions to offset costs [11][12]