>> all right, diana olick, thanks. >>> up next, remembering matthew perry. hoda kotb speaks exclusively with a co-creator of "friends." what he said in her final conversation, next. cancer, but a treatment can be. keytruda is known to treat cancer. fda-approved for 16 types of cancer, including certain early-stage cancers. one of those cancers is triple-negative breast cancer. keytruda may be used with chemotherapy medicines as treatment before surgery and then continued alone after surgery when you have early-stage breast cancer and are at high risk of it coming back. keytruda can cause your immune system to attack healthy parts of your body during or after treatment. this may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain, severe nausea or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst, or urine, confusion, memory problems, muscle pain or weakness, fever, ra

diana olick is joining me now. could this keep more potential buyers on the sidelines?y could, frank. the housing market is in a different place. the average rate on the 30-year fixed started at 7% in september and now heading toward 8%. to get a picture of how much the affordability has been crushed, you know i'll do math. buying a $400,000 home with 20% down on a 30-year fixed, you are paying $965 more than two years ago when rates were around 3%. that was before the fed started hiking rates. that doesn't factor in the same home is now 40% more expensive than it was at the start of the pandemic. we went to a sunday open house in d.c. to see the impacts. a lot of buyers were out looking. that is all they were doing. just looking. >> in the first two weeks of october as anticipated, inventory has taken a jump. interest rates have taken a jump and we are seeing more houses, but it is anecdotally on the streets with less buyers. >> reporter: some buyers who qualified over summer no longer do at the current rate. they are waiting to see what the effect this rate will have

we have diana olick with more. >> reporter: good morning. the baiden administration announced the seven clean hydrogen homes selected to receive $7 billion of funding from the infrastructure law. administration officials said the hubs are not single production facilities. they are using a fuel which emits no carbon dioxide. this will move to the hydrogen economy first. it will be public-private partnerships. the hubs will create tens of thousands of jobs and officials said bringing the total investment to nearly $50 billion. one of the largest investments in it clean energy thus far. of those hubs, the appalachian hydrogen hub which covers west virginia and ohio and pennsylvania is a crossroad. some of the companies signed on to work with it include baker hughs and nucor and enbridge. this is the largest total money invested. companies involved in that are ge and gm and microsoft and chevron and amazon and boeing. officials say the hubs are expected to produce 3 million metric tons of hydrogen per year which is one-third of the target. a big

diana olick is following that. you can see the housing stocks, right in the wheelhouse of things you look at every day. >> housing stocks are having a rough day. higher bond yields, the average rate jumped to 7.72%. the treasury has been climbing on strong economic data and that j.o.l.t.s. report today. higher rates have crushed affordability. take a look at horton and lennar and zillow group is down. the builders had been benefiting but higher rates are killing them. now in negative territory for the first time in five months, scott. >> it's hard to be optimistic. i appreciate it very much. diana olick joining us from washington. the last chance to weigh in on our "question of the day." it's quickly marching in that direction. head to @cnbc on x. at humana, we believe your healthcare should evolve with you, and part of that evolution means choosing the right medicare plan for you. humana can help. hi, my name is sam davis and i'm going to tell you about medicare advantage prescription drug plans that can provide m

diana olick on the impact on home builders. rick santelli in chicago. let's start with dominic chu on the dollar. >> the value of the u.s. dollar has risen by roughly 10% over the last three months. and with an estimated 40% of s&p 500 revenues coming from outside the u.s., that rising u.s. dollar could be a potential headwind for those u.s. companies and their profits and revenue reports coming in the coming weeks and months, now, with regard to some of the companies that could face some of the biggest headwinds, we looked at some of the companies that have the highest percentage of their revenues from outside the u.s. borders. now, according to data from s&p capital iq, some of these names could be weighing in on the effects of the stronger u.s. dollar. from a consumer standpoint, estee lauder, 77% of their business outside the u.s. coca-cola, 64% of theirs outside the u.s. and proctor and gamble, about half of their revenue is outside the u.s. now there's also that technology consumer discretionary media. many of those companies have a lot of their r

and diana olick on the selloff in homebuilders today.tling. kind of weak under the hood everywhere. >> yes, it was pretty weak pretty much all along. not in a dramatic way, definitely a little bit of wear and tear. look, four days of short covering, bargain hunting, a little bit of a chase going on. some relief out there that yields had calmed down, oil as well. and a little bit of a reversal here. here's how it goes, you think it's going to be a calm, nothing day. pretty poor 30-year treasury auction, sends yields shooting higher. definitely back into the uncomfortable zone, that's when you can maybe relax if you're below that, shot above 470, still there right now. we're on guard, especially because the market, the s&p 500 has not proven it's more than a bounce yet. it's well on its way, but uyou haven't gotten above these levels from late september, that might tell you it's a little better than a reflex rebound. i guess it sort of explain, you know, the midday low. we were just about flat for the week. it seems kind of mechanical on o

. >>> let's get to diana olick. >> good morning.uch wider than expected jump, 759,000 annualized. the street was looking for 680. that's up 12% month to month and up 33.9% year over year. these numbers are based on signed contracts in september. that's people out shopping during the month signing the contract. we did see mortgage rates drop a little bit in september, below 7.5%. it's now they've been climbing up in october towards 8%. so those people obviously taking advantage. we did hear yesterday from the ceo of poltie group they're buying down. he said they're giving people 5.5% on the rate. this as the existing home supply, at the end of september, was at a record low according to realtors so builders are definitely profiting from that. the sale median price was $18,800. that's down year over year. and people are buying on the lower end of the market. interesting that the inventory, a 6.9 month supply is down from last month. the builders are going through what they have, the back log, et cetera but a bigger than expected jump

diana olick, andy walden, on the impact this will have. welcome to both of you. a, what are the headlines? >> the average rate on the 30-year hit 7.72%. that according to mortgage news daily. mortgage rates follow loosely the yield on the ten-year treasury that has been climbing on strong nick data. rates have not been this high since the end of 2000. today the j.o.l.t.s. report is pushing things higher. hitting both the new and existing markets while builders from the tight supply, higher mortgage rates are a major concern now. now to put these rates in perspective for a borrower buying a $400,000 home, the monthly payment today is about $930 more than it was when rates were at 3% during the height of the pandemic, that is real money and is having a very chilling effect. >> andy, i turn to you because a lot of people have said maybe the hope for rebound is now evacuating after the latest round of housing data. >> it was red-hot coming into august. we're 2.5% above last year. that headline number was effectively flat in may and was ready to push higher. buying pow

diana olick and rick santelli.ere we start today, mike, that is the center of the action, the rising treasury yields. one trigger this morning was retail sales. so it's important, it's a snapshot of the american consumer which drives our economy, of course. they're not inflation adjusted but were they strong. i don't think anyone expected to see a number like this. 0.7% jump from august to september. 3.8% stronger this september than last year. and if you dig into that, yes, autos were a big part of it and gas stations were a big part of it as we're spending more on gas, but there was a good strength in online retail, there was strength in miscellaneous retail, which includes convenience stores and the control group which goes into gdp was 0.6%. that was a lot stronger than what we saw the month before, and really continues to bode well for third quarter gdp. it's surprising given where we are after so many rate hikes. we see the pressure in the housing market in mortgages and see the pressure in americans borrowin

diana olick is joining us. >> yeah, look, it is all about the cement which concrete is made of and whicher. cement is made of lime steen which s stone which is about 50% of co2. what if you could reinvent it with a different rock? >> that is called a silicate rock. because there is no co2 in the rock, there is none in the production process. >> reporter: and brimstone is one of several companies trying to reduce the carbon emissions from the production of cement which accounts for about 8% of global carbon emissions. brimstone is using a different rock but producing standard so-called portland cement. it received certification of that last july. >> people already know how to build with it, so construction won't be delayed. people already know how for specify it, that way there are no safety concerns. >> reporter: it is still in the early stages with a pilot plant now in the works. but once scaled, the cement will be cheaper to produce than what is out there now. >> we think that that is essential to decarbonization because we don't think that we can convince everyone in the world to spen

diana olick joins us to explain. diana? packages but hate the packaging. this is especially true for all of the frozen food deliveries that are getting more and more popular so what if i told you at least one of the remedies could be found in your shrimp cocktail. major companies like amazon say they are trying to reduce packaging, but of the 380 million tons of plastic produced every year, about half of it is for single-use purposes including product packaging and styrofoam. now companies like temper pack, green cell and a santa cruz-based startup called cruz foam are making better packaging. cruz foam is making it out of shrimp shells. >> what we've done is really built a process which allows us to take this waste and essentially manufacture and turn it into large-scale replacements for plastic. >> cruz form is made from chitten, a material found in shrimp cells, insects and fungi. it is biodegradable so you can either compost it or it will degrade quickly itself in a landfill. since it's made from waste, costs are lower

diana olick explains ipher continuing series on the rising risks. >>> in the panama canal this past summeres to reduce the daily number of ships traveling through. that resulted in severe backups that hit supply chains at the end of september, they did it again a similar reduction in 2019 cost global shipping as much as $370 million. that same year, record low water levels in the mississippi river disrupted transportation of agricultural goods costing about a billion dollars in losses. all of this is not lost on the world's second largest container ship company >> we firmly believe that climate change forces a great threat to the industry and the consumer overall we're seeing disruptions happening all the time >> about 90% of traded goods are carried over water and maritime trade volume is expected to triple by 2050 as demand increases. this as shipping is at increasing risk from tropical storms, inland flooding, sea level rise, drought, and extreme heat >> actually imagine that if the port has an impact, we're unable to unload the cargo here, there's a downstream impact to the supply chai

join ng us now, cnbc's diana olick to sort all that out. >> hey, mike. dr horton is the largest home builder in the u.s. they're essentially a manufacturer. they'll have to push product. whether that means mortgage rate buydowns as incentive or lowering prices, that's what they're going to do. it's interesting because in the builder sentiment report today, they did note that builders are using more incentives. i was talking to housing analyst ivy zellman yesterday and she said 70 plus percent of those incentives are mortgage buydowns because rates are at such a high right. >> it's amazing, diana. everything happening in housing and in the bull case is pretty clear, works to the benefit of new home builders as to existing homes. i just wonder how much longer that can essentially go in this time of scarcity. >> well, look, we have a massive shortage of homes for sale in general. so, the builders really need to step up. they have a long runway. the question is if affordability is hit this hard and builders can't get buyers in the door, we saw buyer traffic

diana olick. >>> coming up on the show, golden gate keeping.verless li.o taxis a ve report when "power lunch" returns after this. ♪ power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ >>> there is a major development just crossing in the last hour or so in the battle over driverless cars in san francisco. and, of course, deirdre bosa has that story for today's edition of tech check. this was the holy grail for me. if they

the verdict could result in $5.3 billion in damages, and diana olick has the details. >> the national association of realtors, along with residential real estate brokerages were slapped with $1.8 billion in damages after a federal jury found them guilty in a major lawsuit that could change the way homes are bought and sold. now, the damages could triple under anti-trust rules the suit claimed a conspiracy to keep broker commissions high by requiring a listing agent compensate a buyer's agent for listing on a property on the mls you which is the biggest home listing service. that means the seller has to pay its agent and the buyer's agent. the realtors put out a statement saying that nar rules prioritize customers, this matter is not close to being final, as we will appeal the jury's verdict. they are also asking the court to reduce those damages. now, analysts wrote they worry this could be a drag on housing if buyers have to start paying commissions to their agents, because first-time buyers are already scraping by, as you know, in this extreme ly low housing market >> karen, you do

diana olick is joining us with more.her we'll see a double dip in housing. >> yeah, absolutely. this is all about interest rates plain and simple. the 30 year fixed now at 7.65% on mortgage news daily, gown slightly from last week, but still up significantly since the middle of july. and i'm flagging july because that was the last high in the builder stocks. names like sdd.r. horton are do 20%. and also red fin, compass and zillow all down us a the housing market is essentially frozen. >> the first two weeks of october as anticipated, inventory has taken a jump but because interest rates have taken a jump too, we're seeing more houses but honestly it is anecdotally out here on the streets less fires. a lot of traffic but not a lot of actual shoppers. >> she also told me that some people who had been pre-qualified for a mortgage over the summer no longer qualify at these higher rates. back to you. >> diana, thank you. "squawk on the street" conties teth.snu g for answers, it's good to have help. because the right informat

we have september read for existing home sales and for that we head east to diana olick. >> rick, existing in september to a seasonally adjusted annualized rate of 3.96 million units, slightly better than the street was expecting. sales down 15.4% year over year. we have a 3 handle, the slowest sales pace since october of 2010, which remember, was during the foreclosure crisis. for perspective two years ago sales were at 6.3 million annualized, when the average on the 30-year fixed was at 3%, today it's at 8%. the realtors say it's all that crushed affordability and lack of supply. 1.13 million homes for sale at the end of september, down 8% from a year ago. inventory now at a 3.4 month supply. slightly better than last year, but only because sales have dropped so much. adding to higher mortgage rates median price of a hold sold in september was 394,300, up 2.8% year over year and we're continuing to see more homes selling on the higher end of the market likely because there's more supply there and higher end buyers can often use cash. mortgage demand at the lowest level since 1995. sara,

he is the pultegroup president and ceo and our very own diana olick.n, what came out today with the numbers? numbers beat expectations. the big question is what is happening to demand as mortgage rates climb north of 8%. what you are seeing? >> good morning. thanks for having me. we had a great quarter and it adds to what has been an extraordinary year for the company thanks to a strong operating model and wonderful team. a few of the things i think i would highlight for the quarter which we're particularly proud of is great demand. our orders were over 7,000 for the quarter which is on a year over year basis nearly a 43% increase. certainly, things have gotten more difficult in a high interest rate environment. c c candidly, we have been facing that for the majority of the year or 18 months. we have the ability to operate in that type of environment and deliver great results for the shareholder. >> obviously, there is huge demand for homeownership when you think of the supply out there. that is a story we talked about again and again. we have seen the