on housing, diana olick in port florida.e begin with scott cohn in raleigh, north carolina, where more than just the presidency is at stake in the tar heel state. >> reporter: all roads to the white house go through raleigh. donald trump with an afternoon rally. >> we are going to winin the grt state of north carolina. and we are going to win back the white house. >> reporter: while hillary clinton plans a midnight rally, her running mate and husband, crisscrossing the state before hand. it's not just the 15 electoral votes at stake or a potentially pivotal u.s. senate race. the north carolina governor's race, the closest in the country, is a referendum on the state's controversial law signed by governor pat mccrory, restricting transgender's people use of public bathrooms. >> the controversial law has been blamed for close to $500 million. >> reporter: opponents say the law, which also bars local anti discrimination ordinances is costing the state billions in business. >> putting such a negative brand on the state is going

diana olick on what the spike means. >> reporter: as president-elect donald trump met with leaders in washington today, investors around the world continued to back out of the bond market, which in turn pushed u.s. mortgage rates, which loosely followed bond yields to their biggest two-day gain in three years. >> in terms of actual interest rates, we moved a quarter of a point higher in two days. that is relatively unheard of, we can count without ung any of our toes, back at least a decade. >> reporter: the average rate for 30-year fixed mortgages are still historically low. but it could keep some buyers from qualifying for a loan. rising rates also just plain scare buyers. >> psychologically we feel like 3.875 is a much higher rate than 3.3625, if that's what we're looking at. the psychological impact is fairly substantial. >> reporter: the rise in interest rates is also hitting the stocks of those who invest in real estate. >> reits are derivative of the economy. interest rates going up with send reits down. if the economy does better, that should help rent growth. >> reporter: it

diana olick takes a look at that key pillar. >>> home price gains gaining and just hit a new record.he much-watched s&p case-shiller national home price index surpassed its last peak, which was in 2006 at the height of the last housing boom. low supply and high demand fueling competition, which in turn fueled prices. home prices in september jumped 5.5% annually. that's bigger than the 5.1% gain in august. and that again is a national record. but we all know, all real estate is local, so let's dig in. the 20 largest markets were up 5.1%, which was unchanged from august. top gainers continue to be seattle, portland and denver, which are all taking the runoff from people moving out of san francisco. all in all, seven cities reached new price peaks, adding to those three are dallas, boston, charlotte, san francisco. markets hardest hit by the housing crash, miami, tampa, phoenix and las vegas have seen big price gains but are still well below prerecession peaks. all price gains were recorded before mart rates shot up in november. the average rate on the 30-year fixed jumped from 3.5% to

diana olick has more on the new trend in housing. ♪ >>> adrian nassau just closed on this three-bedroomin maryland. it's a fixer upper, but she is looking forward to the project. >> i actually think i'm simplifying my life. >> reporter: nassau, widowed, now 15 years, sold her large family home on the eastern shore and intends to sell the con low she is living in now in nearby bethesda. even in her retirement, she still thinks ownership is worth it. >> i think when you own, you can do with a house whatever you want. you can make it your own. you can make whatever improvements you feel comfortable with. >> reporter: nassau is one of a growing share of single women in the housing market. they now make up 17% of home buyers, more than twice the share of single men. this, despite the fact that women still earn less than men for the same jobs. >> there are women in the workplace who earn good money. who are professionals. and who are independent in their thinking and feel they're able to cope with taking on a house. >> reporter: in the past, women had a harder time getting mortgages on their

for "nightly business report," i'm diana olick in washington. >>> a new report today shows that americanstarted to feel more optimistic about their finances amid donald trump's white house win. according to the university of michigan's sentiment survey, the sense of optimism was partly because the election was finally over. the survey included interviews done both before and after november 8th, and it measures attitudes towards personal finances, employment and government policy. >>> that sense of enthusiasm also extended to the stock market, which has been driven in part by the belief that president-elect trump will adopt a far-reaching tax cut and stimulus programs and ignite growth. there may be one thing standing in the way. deficits. steve liesman explains. >> thank you very much, everybody. >> reporter: president-elect donald trump has defied the odds so much that betting against him seems like a quick way to the poor house. when it comes to his plans to enact a multitrillion dollar tax cut and massive spending programs, the question is whether the deal-maker can take on one of the

diana olick takes a look at how the market would fair under each potential administration. >> reportere housing crash may be over, but the recovery is not. that's why the lack of focus on housing from either candidate is so glaring. >> what we have really gotten is more directional conversation. one party talking about affordable housing, the other party talking about deregulating a financial market that seems to have largely seized up. >> reporter: neither have mentioned mortgage reform, fannie mae, the fha. 95% of the mortgage market still backed from the government, a relic of the mortgage meltdown. how do we bring private capital back to the marketplace, and how do we manage the growth of nonbank lenders? >> clearly, his whole campaign is about growing the economy and smashing through regulations. so i think that you could see real up side with trump, as well, provided the economy and the other parts of his agenda don't derail. >> reporter: hillary clinton also wants to grow the economy, but not at the expense of regulation. she has talked some about affordable housing and underser

for "nightly business report," i'm diana olick in miami. >>> coming up, the road ahead. business may change for the auto industry during a trump administration. >>> airfares may actually fall next year. according to a report by american express, overcapacity and increased competition among carriers could put downward pressure on prices. short haul economy flights could see 3% drops. long haul business class fares may decline by about 1.5%. but the airlines may charge higher fees to offset those lower fares. >>> it is auto show season, and this year, near record sales. a strong economy and a slew of new models are helping generate some buzz. phil lebeau is at the first big show in los angeles where executives are talking about the president-elect and the new cars and trucks that are turning heads. >> reporter: in a city of stars, no expense is spared, rolling out dream cars. take the $323,000 mercedes cabriolet. mercedes expects strong sales of a rich vehicle only the very rich can afford. >> we are only building 300 worldwide, and we're only bringing 75 to the u.s. we wi

diana olick has some possible answers. >> reporter: the price tag for a home just got a little higher today, as the continued sell-off in the bond market pushed the 30-year fixed mortgage rate across the 4% line. that's the highest in almost a year and up dramatically from just a week ago. words like "panic" and "damage control" were floating around lender land as borrowers tried to lock at lower rates. while the immediate trump effect was negative for because rorrow the president-elect keeps his word, getting a mortgage could get easier. lending has been tight due to endless lawsuits that continue even years after the housing crash. >> so just getting them to holster their weapons and say, look, we're going to put a moratorium and stall on any of these existing department of justice investigations or suits until further notice. >> reporter: if the banks see less risk, they may open the gates wider to borrowers, but new regulations on lending from the cfpb are unlikely to change soon. dave stevens, ceo of the mortgage bankers association said barring a change at the cfpb it's hard to

for "nightly business report," i'm diana olick in delray beach, florida. >>> next we head to terre hauteana, and phil lebeau. >> the line in terra hoet, indiana, wound its way through two aisles to cast a ballot. >> i voted for trump. because the thought of having him president is less scary than having hillary as president. >> i voted for hillary clinton, because i just don't think donald trump is ready to be in office yet as president. just don't think -- i know she's kind of crooked, but my best choice right there. >> for most of the people here in tarater host, their number one concern is picking a president who will get the economy growing at a faster clip, because in this area, there's a sense that terre haute is not seeing the benefits when it comes to the economy. >> everybody wants prosperity. and so when they're going to vote, i think that's what they're voting for. they want something dramatic to happen that's going to change so they can have some prosperity. >> terre haute, like many smaller cities, has the blue collar blues. job growth has plateaued in recurrent years. at th

." >> diana olick has details on how that could impact the housing market. diana? >> reporter: well, first, the mortgage interest deduction is already capped at loans up to $1 million, if you're married and filing jointly. $500,000 if you file separately. that said, the median price of a home in the u.s. is just above $200,000, so not a lot of people make it to that cap. still, this deduction is wildly popular. a hot potato that lawmakers really don't want to touch. and they would have to pass any changes. interesting that it's so popular, given that only 62% of adults own a home, and of those that do, one-third do not have a mortgage. but let's get to the basics. the vast majority of the benefit from the mortgage deduction goes to people who earn more than $100,000. these are the least cost-burden homeowners. let's say you have a $500,000, 30-year fixed mortgage at 4.5% and you're in the 33% tax bracket. in the first year, the deduction saves you just over $10,000 in taxes. so what if the trump administration caps deductions at even $100,000. well, you're total in

this may not be the busiest season for home sales, but as diana olick reports, the hit still hurts. >reporter: mortgage rates are sitting at the highest levels in over a year with no sign of turning around. that is starting to have consequences. the average rate on the popular 30-year fixed loan moved more than half a percentage point higher following the election. from 3.5% to 4.125% now. and that happened in barely a week. it's the biggest move since the taper tantrum back in june of 2013. higher rates make housing more expensive, and make it harder for some borrowers to qualify for a loan under the strict debt and income limits lenders require today. rising rates are hardest on first time buyers who are more on the margins of home ownership. one lender in new york told me one of his clients, a first time buyer, lost a deal last week due to the higher rate. another lender in massachusetts said he spent all of last week educating worried clients. mortgage rates, he said, are 80% psychologically and 20 mez math. the psychological hit may be the hardest. a real estate agent in dallas t

diana olick has the new numbers you need to hear coming up. >>> welcome back. less than half an hour to go in the trading session this week. i'm joined by tim anderson who is the managing director on the floor here. what do you make of the moves we've seen in stocks and bonds? >> you know, it's a continuation of what we started to see in the middle of last week. and it's probably got a lot to go. there's been a very large move in bonds. a ten-year from 1.75 all the way up to 2.35. and it's interesting that the vol tillty has increased that much. >> which some people think the vix is a dead measure of something. there are plenty of people who think it's overdone and want to buy it? and buy -- i should say want to buy the sell-off in bond, meaning sell what's been happening in stocks? >> you could buy for a short-term trade but clearly investors are looking at -- i talked about this last week with bill -- a totally different landscape for the next four years than what they've been operating under for the last eight years. and it's a landscape that was also unexpe

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diana olick joins us now with more. on real estate will have less to do with his experience as a developer and more to do with his promises to deregulate the financial system. the big bank haves basically pulled out of fha lending already and kept underwriting very tight on other loans because they're afraid of putbacks and lawsuits. the cfpb has a lot to do with that. now, dave stevens, ceo of the mortgage bankers association, told me that barring a change at the cfpb, it's hard to imagine we'll see much change in the near-term. director cordray is an independent regulator and term runs through the spring of 2018. stevens also said republican leadership is not eager to see fha chrks is the government ensured low down payment loans expand, and we could in fact see an fha rollback. then of course fannie mae and freddie mac still under government conservatorship. their stock actually moved higher last week with some investors thinking that donald trump will recapitalize and release them. but trump said nothing about the t

for that, we go and check in with diana olick. >> that's right. mortgage rates up again today. this time to a big psychological number. the average rate on the popular 30 year fixed mortgage hit 4% according to mortgage news daily. that after rising a quarter of a point last week. we're now at the highest rate since the first week of this year, matthew graham tells me people were trying to lock loans quickly last week and are facing a tough choice to lock today or hope for a bounce back. he says the situation on the ground is panicked with lenders trying to do damage control. the move, of course, is due to the continuing sell-off in the bond market, rates loosely followed the yield on the ten year treasury with home prices as hot as they are now, if these higher rates hold, and go even higher, we could start to see home prices weaken historically low rates have juiced prices for a long time. now, not so much. >> this, diana, is typically a time of year when interest rates come down in the mortgage market. >> it is the slow time of year, yeah. slow time for the housing market. y

and for the granular detail as always we head east to diana olick. > well, rick, you're asking why was it a blowout number for existing home sales and a big disappointment for new home sales? these are based on signed contracts in october, not closings. these are folks out shopping in october whereas the existing homes folks are out shopping in july, august, september, that closed in september. that said the big number here is the revision down for last month from 593 to 574, then we come down again to 563,000, that's a big disapointd. the street was looking for basically flat on the new home sales number, but here may be the reason why. we have a big jump in the home price. the median price of a newly built home is $304,500 in october. that's up from $298,700. and that likely reflects the higher cost for land, labor, materials that the builders are facing. and with affordability weakening on that front in october, you're going to see fewer buyers out there. we saw supplies for newly built homes move to a 5.2-month supply, up from 4.8. so that's a pre

diana olick has that story. >> it may be shut for some folks. we haven't seen a jump like this since the taper tantrum three years ago. take a look. it moved 25 basis points in two days or a quarter of a percentage point from 2.365 to 2.875. i'd be paying about 30 bucks a month more today. that might not sound like a lot, but remember as rates rise, it gets harder to qualify based on debt to income limit. if you wanted to get the same rate as tuesday, you'd have to put in $4,000 up front cost. this is all happening because of the selloff. it took off yesterday, crossing the 2% line. last time was three years ago when the fed said they would be tapering their investment in the bond market we saw a move of a half a percent. we should note the rise in interstate is hitting a high in reits. the general jump in the markets are a positive. back to you guys. >> thank you very much, diana. president-elect trump and vice president elect pence meeting with the house speaker at this hour. after that they're going go across the capitol to see the senate maj

diana olick has that story. diana? >> tyler, home price gains are gaining. measure just hit a new record. the much watched s&p case-shiller national home price index surpassed the last peak, in 2006, at the height of the housing boom. low supply and high demand are fueling competition. which in turn fuels prices. home prices in september jumped 5.5% annually, that's bigger than the 5.1% gain in august, and that is a national record. we all note real estate is local, so let's dig into it. the 20 largest markets were up 5.1%, which was unchanged from august. top gainers continue to be seattle, portland and denver, which are all taking the runoff from people moving out of san francisco. all and all, seven cities reached new peaks adding to those three are boston, charlotte, dallas, and san francisco. markets hardest hit by the housing crash, we're talking miami, tampa, phoenix and las vegas. they have seen big price gains but still well below p pre-recession peaks. all the price gains were recorded before mortgage rates shot up in november, the average rate on

. >> let's stick with real estate, diana olick is joined by a man who is big in miami when it comes to estate. diana? >> that's an understatement. we're at sls brick, a brand know condo and hotel tower, luxury all the way, that is the first actual collaboration between hospitality mogul sam nazarian and king. this is a new brand for you. many properties in development here in miami and more internationally. given the global volatility in economies, brexit, softening on the luxury end, you still think this is a good bet? >> yeah, i think miami is a sweetheart of the world. we have seen the slowdown on demand on south american buyers but still coming. forced us to go to new markets, to turkey, italy, china, and we find that the word miami is still magic, still getting good number of buyers. we hedged against a downturn by acquiring very large deposits. we leverage is not taken part now, like it did in 2009. so our buyers have 50% nonreturnable deposits. so we fell very strongly about the market. and we feel very strongly about miami. and the long-term, i don't think there is a city like

let's get to diana olick with the numbers. er: pending home sales in october up 0.1% month-to-month, up 1.8% year over year. that is exactly in line with expectations. now, the pending home sales index from the national association of realtors is based on signed contracts in october. that is people out shopping for homes in october pre-election and before that unexpected rate spike that came just after the election. the realtors saying that really tight supply is holding back sales. and they are noting that people who got in before the rate spike are likely going to be more competitive than those who are in after the rate spike. saying that if we don't get more supply on the market come 2017 when rates are expected to go even higher, that will hurt sales more than expected. now, regionally pending home sales were up in the northeast 0.4%. and up in the midwest 1.6%. they were weakest in the south where home builders are most active but where supply is still tight down 1.3% month-to-month. and, again in the west, up just barely

diana olick in washington has that. a. >> actually, we're in miami, but home builder sentiment unchanged at 63 in november on the national association of home builders. wells fargo home index. now, this is up from a year ago in november at 62, but the home builders are quick to note that the results of this survey mostly came in the week before election day. and that was before mortgage rates shot up a half a percentage point after the election. so you could expect a change in december. but again, unchanged at 63. we did see mortgage applications last week plummet 9% on those higher ratds. on the survey from the builders though, buyer traffic increased one point to 47. current sales unchanged at 69. sales expectations over the next six months down two points to 69. 50 is the line between positive and negative sentiment, so only buyer traffic still stuck in negative territory. regionally speaking the strongest home builder sentiment was out west. the negative area was in the northeast. now, if your wondering why we're in

diana olick is with us today.e in housing, there is more behind this headline than meets the eye. >> there always is. look, it was a beautiful jump. we saw sales up nearly 6% year over year and the realtors are calling it an autumn revival, but, remember, these numbers are based on sales that were made in july, august and september. so these are closings that are reported for october. we're in a very different world right now. we all know that. we have mortgage interest rates that jumped more than half a percentage point post the election. you talk about a dow jump, same thing happened with mortgage rates. when you see the first time home buyer coming back in this market, which is where we were looking for the growth in the last couple of months, and where the realtors seem so excited about it, that first time home buyer on the cusp of affordability. we say, oh, you know, the hike in mortgage rates isn't that much, still low, maybe 50, 75 bucks a month more to that first time home buyer, not the monthly payment, i

diana olick is live in del rey beach, florida. >> hi, tyler.look at the math, it is hard to figure out how donald trump could win without this state and its 29 electoral votes. that said, the race here is very, very tight. a record number came out to vote early, in fact, more people here voted early than voted at all in 2000. that was, of course, the election between bush and gore. that's just how fierce the florida fight is this year, but out on the pickle ball court, politics stays on the bench. but the discussions on that bench are far more varied than you might think. we came here to talk about issues we thought were important to seniors, like social security and medicare. but really we heard more about personalities and honesty as well as jobs, foreign policy, and women's issues. one player did say she was interested in social security, but had to dig deep to find it. >> if you dig in, and do some google searches and see some of the things that they said in the past, and there is a lot of material online to get that information. you absolu

our diana olick is there live. and she joins us with more on this story behind the state. ning, diana. >> good morning. a quinnipiac poll just released a few hours ago shows the florida race in a dead heat, hillary clinton at 46%, donald trump at 45%. well within the margin of error. now, half of florida's registered voters have already voted. early voting is now closed. democrats turned out in greater numbers than republicans, but by a very thin margin. 40% democrats to 39% republicans. and this is just who voted. it is not how they voted. over a million unaffiliated voters have already cast ballots as well. we do know there was a surge in hispanic voters who represent 17% of the florida electorate. we're here in port st. lucie, florida, one of the hardest hit areas in the recession, just over 10% of residents here lost their homes to foreclosure and one in five are still under water on their mortgages today. the homes in this community are now selling some of them for half of what they did a decade ago. so you know these folks are voting with their pocketbooks. >> i know

diana olick is live in ft.da, with a look at how many floridians have already cast their ballot. >> brian, the answer is half of registered voters in florida have already voted. the majority of them in person. over 6 million ballots cast and here's what we know so far. democrats showed up in greater numbers, but not that many more and the margin is far closer than in 2012. 40% democrats to 39% republicans. but that's just how they're registered. it is not how they voted. we do know there was a huge jump in early hispanic voters. they make up 17% of the electorate in florida. and a new count just in from the university of florida shows that nearly 1 million of the 6 million who voted early were hispanic. that share is up 100% compared to the last presidential election. it is clearly a sign of strong sentiment among this cohort. >> donald trump hasn't been a favorite for latin voters. and i think that he just wanted to prove it. so they wanted to prove it in the numbers. >> this area in port st. lucie county hard