Real Estate & Construction · Week of Nov 2, 2026
Rates weigh on housing as lenders build reserves: the week in real estate
Third-quarter results and housing data pointed to higher mortgage rates, rising credit reserves at commercial lenders and debt refinancing.
Third-quarter earnings dominated the week, and two releases on the housing market pointed to the same pressure. Zillow Group attributed a 4% decline in Residential revenue to higher-than-expected mortgage rates. Realtor.com's October report said homes under contract fell 10.5% year over year as 30-year mortgage rates averaged 7.33%, 110 basis points above a year earlier, while new listings fell 7.5% and active inventory rose for a fourth straight month.
Commercial real estate lenders reported larger credit loss reserves and worked on their balance sheets. Granite Point Mortgage Trust posted a $(60.3) million quarterly loss, with its CECL reserve at 13.7% of loan commitments. Ares Commercial Real Estate returned to higher net income, but its reserve rose to $139,325 thousand. Both companies reported loan resolutions or office loan repayments and changes to their financing. Braemar Hotels & Resorts refinanced a loan due in January 2027 and says its next hard debt maturity is December 2028. NNN REIT maintained its 2026 Core FFO guidance with occupancy at 99.2%. On the building products side, Andersen Windows outlined additions to its window and door lines.
Zillow Group, Inc.
Zillow Group Reports Third-Quarter 2026 Financial Results
Zillow Group reported Q3 2026 revenue of $724 million, up 7%, and a net loss of $158 million that included a $165 million Zillow Offers securities class action settlement. Rentals revenue rose 26% and Mortgages revenue rose 32%, while the company says higher-than-expected mortgage rates pushed Residential revenue down 4% to $419 million.
NNN REIT, Inc.
NNN REIT, Inc. Announces Third Quarter 2026 Results
NNN REIT reported Q3 2026 Core FFO of $0.90 per diluted share, up 5.9%, with portfolio occupancy at 99.2% and $221.7 million of investments at a 7.3% initial cash cap rate. The company maintained its 2026 Core FFO guidance of $3.50 - $3.54 per share and raised disposition volume guidance to $160 - $180 million.
Granite Point Mortgage Trust Inc.
Granite Point Mortgage Trust Inc. Reports
Granite Point Mortgage Trust reported a Q3 2026 GAAP net loss of $(60.3) million, or $(12.50) per basic share, with a $(45.4) million provision for credit losses and a CECL reserve of $185.9 million, or 13.7% of loan commitments. The company cut its common dividend to $0.10 from $0.50 a year earlier. It also completed a one-for-ten reverse split on October 5, 2026, and extended its JPMorgan facility to July 2028.
Ares Commercial Real Estate Corp
ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS
Ares Commercial Real Estate reported Q3 2026 GAAP net income of $10.0 million, or $0.18 per diluted share, and Distributable Earnings of $0.12 per share, including a $7,082 thousand gain on the sale of a real estate owned office property. Its CECL reserve rose to $139,325 thousand from $125,756 thousand at year-end 2025, and the company says it is reducing office and real estate owned exposure.
Ares Commercial Real Estate Corporation
ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS THIRD QUARTER 2026 RESULTS
In a second release on the same results, Ares Commercial Real Estate said it fully repaid and terminated its $90 million secured term loan after the quarter. The Board declared a fourth quarter 2026 dividend of $0.15 per share, payable January 15, 2027 to holders of record as of December 31, 2026.
Realtor.com
Active Inventory Grows as Sellers Keep Homes on the Market: Realtor.com® October Housing Report
Realtor.com's October 2026 report showed new listings down 7.5% year over year to 357,000, the steepest decline of 2026, while active listings rose 7.4% to 1,183,500 and the median list price fell 2.2% to $415,000. Homes under contract fell 10.5%, which the company ties to 30-year mortgage rates averaging 7.33%.
Braemar Hotels & Resorts Inc.
BRAEMAR HOTELS & RESORTS ANNOUNCES REFINANCING OF THE RITZ-CARLTON LAKE TAHOE
Braemar Hotels & Resorts refinanced the 170-room Ritz-Carlton Lake Tahoe with a new $60.0 million loan at SOFR + 2.65%, replacing a $43.4 million loan at SOFR + 3.25% that was due in January 2027. The company says an additional $15.0 million may be drawn subject to conditions and that its next hard debt maturity is December 2028.
Andersen Windows
Andersen Expands Product Portfolio to Meet Growing Demand for Customization, Design Consistency and Installation Simplicity
Andersen Windows announced additions to its 400 Series and 100 Series lines, including wider nationwide availability of triple-pane glass, black color options for 400 Series patio doors and an insert frame option for 100 Series double-hung windows. The company did not give specific availability dates for each item.
This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not Finance Private reporting.