Arrest made in connection with Palisades Fire
A suspect has been arrested on charges of starting what eventually became the Palisades Fire that destroyed thousands of California homes in early January.
Authorities arrested 29-year-old Florida resident Jonathan Rinderknecht, according to a statement Wednesday from the California U.S. attorney’s office. Rinderknecht previously lived in the Pacific Palisades section of Los Angeles, which was ravaged by the fire. Homes.com data found that 11,000 homes were destroyed by the Palisades Fire and a separate nearby fire, Eaton, that burned at the same time.
The blaze caused approximately $30 billion in damages, found Homes.com. It's one of the most destructive fires in Los Angeles history, the U.S. attorney’s office said. Only a small percentage of residents in the Pacific Palisades and Altadena, California, have begun rebuilding, according to media reports.
Rinderknecht allegedly set a fire on land owned by the Mountains Recreation and Conservation Authority early Jan. 1, the U.S. attorney’s statement said. That fire turned into the quickly controlled Lachman fire, which burned underground until heavy winds resurfaced and spread the flames, creating the Palisades fire.
If convicted, Rinderknecht could face a maximum 20 years in prison.
The defendant has a detention hearing scheduled for Thursday morning.
The U.S. attorney’s office in Los Angeles said Rinderknecht is being represented in Orlando by attorney Aziza Hawthorne of the Federal Defender’s Office. A call to that office requesting comment was not immediately returned.
Mortgage applications inch down
With mortgage rates higher after a recent decrease, mortgage and refinance applications declined last week from the previous week, according to data from the Mortgage Bankers Association.
The volume of new mortgage loan applications slid 4.7%. The average 30-year mortgage rate last week was 6.34%. The week prior, it was 6.3%.
Application volume for refinancings decreased 8% but remained 18% higher than the same week last year, when rates were 6.12%.
Compared to total mortgage applications, refinancings accounted for 53.3% of the total. More Federal Housing Administration loans were applied for, 18.5%, up from 16.8% a week earlier.
Buyers prefer timing over speed
The housing market is built for speed, but buyers value timing and confidence.
Data from analytics firm Cotality shows 43% of buyers say finding a home requires fast decisions, yet only 20% think speed matters for every step, highlighting a mismatch between industry priorities and buyer needs.
This impacts confidence: only 8% felt confident after finding the right home, and 13% not until closing. Nearly half expected the process to be stressful, and 70% gave up at least one item on their wish list.
And about 7% described the overall experience as straightforward. Most respondents encountered confusion, especially around insurance, legal steps and unexpected fees.
“The human experience can’t always keep pace. Trust is fragile. Timing misfires. Confidence often arrives too late to matter,” Cotality’s report said.
“Buyers are doing their part. They research early, track rates, build spreadsheets. Still, many stall at key moments. The tools exist. The guidance is available. But neither always shows up when it counts,” the report said.