. >> i wanted to ask you about the refi market.i market right now? a lot of people refinance their homes and with some of the savings, they put it back into their homes during renovation. diana, what are you seeing? >> homeowners right now are sitting on just a ton equity, and they're beginning to pull it out more. the market is very depressed because mortgage rates are so much higher than a year ago and so many people took advantage of lower rates years ago that very few people would have a rate that would help them refinance. it's the cashout or maybe the equity line of credit. we're seeng uptick in that as people do want to put more money into their homes. they have been doing it more in the last two years wharngd i'm seeing in the new reports going forward, home prices are expected to drop because of higher costs for everything else. >> kyle, same question. what are you seeing when it comes to refis or renovations? are you seeing more of an uptick when you see the do-it-yourself renovator? >> during covid, what you would see is

w is mohammed al refi reports now from ed lip at nightfall, the 44 year old m r. for he'd fills his car with blankets and drives to the outskirts of globe far away from the city's crumbling residential buildings. he spends the night here with the sun. since the 2nd earthquake struck, northwestern, syria, and turkey. hundreds of families are afraid to sleep in their own homes, for fear of being trapped inside if they collapse all that lizard, eliza, after all the earthquakes, my son and i are traumatized. and even if you didn't it, we don't dare stay at home because it's not safe. there was leon. we haven't bought a tent and tense cost between $2400.00. and we can't afford wanted her to have decided to stay here with her. i medina. ready earning the earthquakes that struck northern syria and killed almost 6000 people also destroyed thousands of structures . after the 2nd quake, nearly 200000 people were disclosed. families abandoned their homes as aftershocks made the initial damage from the quakes. even worse. many moved into tents in front of their houses or in o

badly hit and a powerful off to shock in the following weeks triggered new says t w's. mohammed al refi reports now from the city of ed lip. at night for the 44 year old, ama feed fills his car with blankets and drives to the outskirts of a lid far away from the city's crumbling residential buildings. he spends the night here with his son since the 2nd earthquake struck northwest in syria and turkey. hundreds of families are afraid to sleep in their own homes for fear of being trapped inside. if they collapse, as you said, after all the earthquakes, my son and i are traumatized, we don't dest home because it's not safe. that was he, and we haven't bought the tenant tense costs between $2400.00. and we can't afford wanted to have decided to stay here. medina, horning the earthquakes that struck northern syria and killed almost 6000 people also destroyed thousands of structures. after the 2nd quake, nearly 200000 people were displaced. families abandoned their homes as aftershocks made the initial damage from the quakes, even worse. many moved into tents in front of their houses or in oth

verkhovna rada , they posted footage of putin's speech in luzhniki a new video of a dancing general refidoor was repaired in russia, what can the news say at first glance about the improvement of a person or the fact that this person will continue to stand on the street only now about this the whole city will know what it's like. this masterpiece of closet architecture even inspired me to write a poem. listen, the doors were made for the glory of the wind. open them and the smell of russian dust will never leave. now, look without a towel, this world is so wonderful. spring has come and we hope that this is the spring, the spring when the snow falls and with it the occupier from our land, when there is no ice and washes away with it all night. this is how spring will bloom when our ukraine blossoms. we sincerely thank those who gave us the opportunity to meet this spring, to our heroes of air defense, rescuers and energy workers, and of course to all soldiers of the ukrainian defense forces. thank you and we do not forget to thank you not only with words, but also with donations for the

a year blood in the struggle for freedom lives in the mountains and thousands of tragedies, which refie continues to bring to ukraine every day for almost a year, as the courage and strength of spirit of the ukrainian people is admired by the whole civilized world, remember the first days of the full-scale invasion, remember how tens of thousands of citizens of ukraine, despite the fear and panic around them, immediately stood up to defend their homeland, someone with a weapon in their hands, someone providing the military with a strong and reliable force, the inhabitants of nadiv beach fill sandbags to strengthen the city's defense русский корпаль glory to ukraine glory to the nation self-organization and courage of ukrainians in those terrible and incredibly difficult days impressed people from all over the planet ships name the seeds since the first days of the aggression, the people of ukraine have been collecting huge sums for the needs of the army, all of them, as they worked, are currently working for victory, so that the armed forces have as many opportunities as possible to des

necessary to reduce the price of russian oil from $60 to $30, isolate the economy to russia and force the refiy damages to ukraine well , here you can ask two questions to what extent russia becomes dependent on those rogue countries that are the axis of evil, the same iran, the same north korea and in general, what financial capabilities remain in russia in the near future considering that it is precisely thanks to finances that russia supports this war, well, this question is quite difficult. i think that economists , let's say more qualified, could give answers to all these questions, the only thing i can say is that it is far from everything for russia, in this situation, it depends exclusively on the budget , because they really have very big problems in the budget, this is even quite clearly fixed and there is a high probability that these problems will only grow, although it is clear that for example in order to carry out some new mobilization , their costs will not be so great, and they have a lot of various soviet scrap metal, and they can recruit mobs, put them on scrap metal, and se

call themselves anti-fascists, ideally not can you come up with the truth that in the case of the refile aggression against ukraine. russia, in the eyes of the entire civilized world, roared at the real evil has turned into the one whom they dealt with in the person of softkey back in the 45th year, with each year we increasingly feel the moral power of this without a premiere feat. also supposedly restoring historical justice and brazenly biting off a piece of foreign territory ripe for an attack on poland, putin for an attack on ukraine, i will make a decision to carry out a special military operation before the start of the second world war goebbels propaganda actively talked about the oppression of the germans who are in the territory of poland, about the violation of the rights of german-speaking people and in other german territories to the east by the german minorities living there more than a million people of german blood were treated worse and worse in 1919-1920. these families were cut off . he tried to achieve a review by peaceful means changes to this unbearable situation

belief that he will be able to occupy the entire territory of ukraine absolutely painlessly for the refieat bloody war, the western countries no longer have illusions about the bunker fuhrer, the leadership of the usa and eu countries helps ukraine not only with words, but also with heavy weapons . german leopards are sent to ukraine. some generally believe that the key to ukraine's victory is that the ukrainian army will be able to do it in the near future, according to my estimates, ukraine will liberate the krym consulate by august 2023 the occupiers are very afraid of such a development of events earlier. at the beginning of spring, even after the annexation, active preparations for the holiday season were underway on the peninsula. and what are they preparing for in the crimea now, properly, for defense against the armed forces , how will the resorts fall to the sea if that’s all? that’s it, 200 km from such trenches according to information , the annexed crimea is very afraid of the landing of ukrainian troops, the decision of the leader of our president will be implemented in our

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basis points higher in just the past month last february, rates were in the 4% range applications to refiome loan down 6% for the week down 74% year over year. that's because they' have alread reified. mortgage rates, the trajectory appears to be higher after that brief respite in january kelly? >> and my head spun and did a 360 when they put out a note saying the housing recovery has started. >> yeah. if i had read that in january, i would have said yeah, definitely started. we went to an open house where there were a ton of people people signing contacts jumped in january because rates came down to near 6%. i got this report saying the housing recovery has stalled why? because of the higher rates. we are up near 7% again. and inventory is much lower. new listings are dramatically lower than a year ago. so while overall supply is more than a year ago, new listings are lower. so nobody is buying the homes on the market, because they're too expensive. >> rates are like a governor as soon as it looks better, they go higher. diana, thank you so much >>> coming up, dking dollar. the stocks is

i was thinng, i should probably set up that 90 day refi. walgreens is all about making life easier.now for you. i'll be honest, there are days i forget what she's supposed to be taking. hey, i get it... and you're not alone in this, ok? so james, all these prescriptions. are they covered? that's right. with your medicare plan you get low-cost copays. thank you. let's talk about making things easier. walgreens is here. ♪ (vo) with verizon, you can now get a private 5g network. so you can do more than connect your business, you can make it even smarter. now ports can know where every piece of cargo is. and where it's going. (dock worker) right on time. (vo) robots can predict breakdowns and order their own replacement parts. (foreman) nice work. (vo) and retailers can get ahead of the fashion trend of the day with a new line tomorrow. with a verizon private 5g network, you can get more agility and security. giving you more control of your business. we call this enterprise intelligence. from the network america relies on. everything's changing so quickly. before the xfinity 10g network

property owners who need to refi are up against higher borrowing costs and lower property values as investors lose their appetite for real estate loans. deal making i'm told has ground to a halt and the cmbs market is largely shut down due to lower values and fear of more bank failures. experts tell me there is no capital out there for office. back to you guys. >> wow. thank you. >>> our next guest also concerned about this area warning commercial real estate and office in particular could be the next shoe to drop. greg zuckerman a writer at the "wall street journal." good to see you. only thing i can hope is that there's way more due diligence being done than perhaps there was for the other loss and those issues. when i asked a friend of mine on wall street, okay f we have the losses on office what should the banks do? i don't know. they can't hedge it. if you sell it you realize the losses which becomes a problem and perpetuates the cycle. raise cash, that destroys profitability in the long run. so, you know, yes, it's an unknown, but it's not clear there's a lot vulnerable banks can do abo

welcome back mortgage demand hitting a three-decade low new data showing applications up 7% last week refis even rose. who is refinancing in this environment? demand is way below last year's levels the reason, there's no inventory. rates are high, and reits are still above 7% let's welcome back andy walden what is your take on the latest round of data here >> you covered it well there we saw some demand return to the market earlier this year when we saw rates get closer to 6% very welcome news for lenders. at the same time, sellers are backing away from the market so we still have these deficits out there, resulting in price hardening this spring. >> what's going to happen in kind of the spring selling season originally it looked hike we could be off to an early start, and what now >> you're right. so we saw demand return early. we went from a 30% deficit down to a 15% deficit, back to a 25% in terms of demand i think what we will see is a modest rise in transaction volumes. we're seeing that in our mixed data for february. so we're probably nearing the bottom there in terms of just overall

mortgages is excellent due to low interest rates that everybody reified into and nobody is going to refiethose, because rates are so much more i would say one thing about the opportunities for home buying right now. i don't think we're still in such a great place we did see rates pull back a little bit because of this banking stress but 6.5% compared to 4.5% a year ago. affordability is still rough home prices are still very high, and the supply of homes for sale is supremely weak right now, as we get into spring when you usually see people put their houses on the market, we're seeing a huge drop in new sellers coming onto the market in march they should be flooding the market >> do you want them to hike by a quarter point next week? if they do, maybe the ten-year yield drops. the mortgage rate might respond opposite to what they do with the rate hike. >> that's what we see through the fall i do think a quarter point is where we should settle out we also have to remember that the fed funds rate and the mortgage rates are not identical. they have a lot more inputs into mortgage rates a lot

so property owners who need to refi are up against higher borrowing costs and lower property values.s been gaining some steam is office conversion to multifamily, like at this former d.c. office building being converted by philadelphia-based developer post brothers. even they admit, though, it will not save the sector. >> 30% of the office stock in cities in the united states, round numbers, is obsolete, but maybe only 30% of that works as a conversion of the structure to multifamily, so there's a huge amount of office space that's obsolete and doesn't have another use for the building as it's built. >> because of lower property values and the current bank stress, several experts i've spoken with say deal making has essentially ground to a halt and the cnbs market is largely shut down. there is no capital out there for offices. tyler. >> all right, diana, thanks very much. karen, this is a struggling sector. you've got leases coming up, as she just pointed out. you've got loans that are going to need to be rolled over. that's kind of a perfect negative storm. >> plus rates. >> plus r

of leaks into the economy but if you think about the debt markets, a lot of people haven't had to refi at these higher levels same portends for the consumer as well. i think right now we're in this area where the data is okay. it's surprising to the upside and people are saying, this is great, it's the next bull market what i think it is, we still haven't seen that. i think these effects are going to come to the back half of the year that's why we've been in the camp that the fed will still hike, although they should not be hiking and they should wait for these hikes to kind of trickle into the system. unfortunately, the data set they're looking at means they're going to hike at least another 50 to 75 basis points. i don't think that matters in the short term, but we'll have to see what the effects are as we go into the back half of this year and early next year and i think that's where you'll start to see the challenges. so, the reason that we're advocating for investors to think about bond portfolios that have higher quality, have things that can perform in a down market, things like

when i think of the veteran out there that he needs to refi his home, he may want to purchase and wend provide that financial solution for them and their families. it's a great, rewarding feeling. everybody in the company, they have that deference and that respect and that love for the veteran that makes this company so unique. i'd like to take a moment to address my fellow veterans because i know so many of you have served our country honorably. one of the benefits that we as a country give you as a veteran is your eligibility for a va loan, which let■s you buy a home with no down payment. now, there's no reason to rent when you can own. helping veterans buy homes. that's newday usa. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out lou

so property owners who need to refi are up against higher borrowing costs and lower property values.e another use for the building as it's built. >> and because of lower property values and the current bank stress, several experts say deal making has essentially ground to a halt and the cmbs market is largely shut down. a data expert at trepp told me there is no capital out there for offices. back to you guys. >> yeah. no capital for offices. all right. let's get deeper into that state of affairs in the real estate business. joining us is willie walker, walker and dunlap, chairman and ceo, and somebody we rely on to give us perspective. three years ago, we started talking about work from home and everything else. now we're in this mini banking crisis where everybody is looking at the commercial real estate on banks' books, mortgages, so to speak, that were, obviously, given at much lower rates. how much of a concern broadly speaking, let's just start there, is it for you in terms of the credit quality of that commercial real estate and the relationship between the banks that have off

6% for the week and 74% lower year over year because there are very few borrowers left who haven't refied much but the rates appear to be higher after the brief respite we saw in january. >> appreciate that >>> the road map for the rest of the hour we'll talk about elon musk trying to rally tesla shareholders at the company's investor day later today more on what that means for the stock. >>> plus elliott management has nominated a slate of directors for salesforce's board that's ahead of the earnings that will be after the bell. >>> ever wonder how much billionaires pay in taxes? we'll tell you later this hour big show still ahead stay with us it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. conventional thinking delivers conventional result

on the refi side, really no refinance. no one is re financing from 3% to 4% to o6.25%.efinancing side >> in terms of refinancing, how much of the business was, let's say, three years ago >> back in 2020, 2021, a huge percentage, 60%, 70%, some were 90, 95% and those lenders are struggling now. we have been the main purchase lender for years now that's not impacted us as much our business, which is more important than the stock >> your stock is okay after yesterday's earnings, but if you look at it since the time it came out, it is down 50%, correct? >> yeah. it is down since we came out but the way i look at it, money will follow success. we're going to be successful here and we have been. we're a large mortgage company, now a large mortgage company for a couple of quarters, large purchase lender. we made almost a billion dollars last year in the worst mortgage market in history. the stock price will follow. we pay a huge dividend people are buying the stock. i'm not worried about the stock at all. >> the stock is down today, not up down 2.8% and you lost money in the m