Perfect Spring Plants to Pot this Season | Home Tips

Container gardening is one of the best ways to welcome spring and say goodbye to the cold winter. This is because, at the beginning of spring, the soil in your garden could still be too cold to support the growth of most plants. On the other hander, potting soil can absorb enough heat from the sun to support the growth of plants that can significantly enhance the aesthetic value of your house. Below are some of the best plants you can consider potting this spring.

Hellebore

This is an evergreen plant that is known for doing well in shady areas. The plant can begin to bloom towards the end of winter even when there is a light snowfall. Once the blooming is over, you can relocate the plant to the landscape where it can continue thriving for years to come.

Columbine

Columbine is known for its compact foliage. With its beautiful, delicate flowers, it can grow up to two feet. Although its flowers attract hummingbirds, they are resistant to rabbits and deer. Columbine can do well with a medium amount of moisture even in a place without a lot of light.

English Ivy

English ivy has leaves that look terrific in early spring. The leaves are also known to tolerate frost. English ivy is great for its draping habit in pots. However, this is plant is highly invasive, and therefore, it is advisable to keep it in its pot instead of transplanting it to your garden.

Spotted Dead Nettle

This plant is an excellent option for edging your pots in spring. Although this plant is not going to bloom until May or June, its foliage will beautifully spill over the edges of your containers

Coral Bells

Coral bells are perennial plants are known for doing exemplary well even in shade. They are unfussy and cold-tolerant, meaning that they thrive even in early spring. They are known for their foliage, but their spring flowers are also spectacular.

The Bottom Line

If you’re looking for an excellent way to welcome the season planting spring plants will do the trick! However, the soil could still be too cold to support most plant species, particularly in early spring. The good news is that there are many beautiful plants you can choose to pot to make your home look more beautiful after a harsh winter. You just have to know what you want to achieve and pick spring plants that can help you to achieve your objectives.

Economic Update | Week Ending March 16, 2024

! Weekly Economic Update
Both the CPI (Consumer Price Index) and the PPI (Producer Price Index) showed that consumer prices and wholesale prices jumped more than expected in February. It was widely thought that inflation would continue to drop in 2024, but that was not the case in February. This drove up home mortgage rates to about 7%. They were almost at 8% in October and worked their way down to 6.5% by the start of the year, but have increased on strong economic news which included a jump in hiring, strong consumer spending, corporate profits above what was estimated, and the inflation rate ticking up. For investors it is not a matter of if the Fed will drop rates below their 24-year highs, it’s a matter of when they will begin dropping rates. Unfortunately, the stronger the economy the longer the Fed will wait to begin rate reductions. It seems strange to hope for bad economic news but that’s what it will take to curb inflation which will allow the Fed to reduce rates.

Stock markets – The Dow Jones Industrial Average closed the week at 38,714.77, almost unchanged from 38,722.69 last week. It is up 3.7% year-to-date. The S&P 500 closed the week at 5,117.09, down 0.1% from 5,123.69 last week. The S&P is up 7.7% year-to-date. The Nasdaq closed the week at 15,973.17, down 0.1% from 16,085.11 last week. It is up 8.4% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.31%, up from 4.09% last week. The 30-year treasury bond yield ended the week at 4.43% up from 4.26% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of March 14, 2024, were as follows: The 30-year fixed mortgage rate was 6.74%, down from 6.88% last week. The 15-year fixed was 6.16%, down from 6.22% last week. Unfortunately, rates rose at the end of the week as higher inflation data was released.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

Home sales data for February will be released next week by the National Association of Realtors and the California Association of Realtors. We have that data tabulated now and you can view that data for your city or zip code at RodeoRe.com.

Have a great weekend!

Mortgage Rate Update | March 14, 2024

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of March 14, 2024, were as follows: The 30-year fixed mortgage rate was 6.74%, down from 6.88% last week. The 15-year fixed was 6.16%, down from 6.22% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

From YouTube TV to OpenAI and More! | Tech News

Keep up with what’s happening in the world of tech! Check out this week’s blog for the leading headlines from across the web. From YouTube TV to OpenAI and more, we have you covered!

Amazon Enables Sellers to Use Links for AI-Generated Product Pages

Amazon is set to revolutionize how sellers create product pages on its platform. The company has unveiled a new generative AI feature, that allows simple Amazon product pages to be generated from a simple copy-pasted link. Likewise, this tool aims to expedite the product listing process by auto-generating descriptions and images. In addition, the tool provides sellers the legal rights to the content used. This innovation is part of Amazon’s broader commitment to integrating AI across its services. These efforts underscore Amazon’s significant investment in generative AI technology. Of course, the latter is not only to streamline seller experiences but also to enrich shopper interactions on the platform.

Google Integrates Complete Nest Cam Capabilities into Google Home Web Platform

Google is enhancing its home.google.com web portal to allow Nest Cam users comprehensive access to their camera features. In addition, this change includes viewing and downloading recorded clips and creating custom clips from recorded footage. This full functionality will now be unified under the Google Home web interface and app. The update aims to simplify the user experience by consolidating live and recorded views for both new and older Nest Cam models. Additionally, the custom clips feature and picture-in-picture viewing promise to enrich user interaction with their security footage. This move signals a shift towards phasing out the Nest app, with the exception of its necessity for Google Nest Protect smoke alarm setups.

Microsoft Teams Consolidates into One App for Both Personal and Work Use

Microsoft is streamlining Microsoft Teams into a single app that facilitates easy switching between personal and work accounts. The shift addresses long-standing user feedback for a more integrated experience. Currently in testing, this unified app introduces an account switcher within the profile section. This update will allow for seamless access to various Teams accounts within one application. Enhanced notification features will improve user interaction by indicating the source of notifications more clearly. As such, the Microsoft Teams (free) app will eventually be phased out in favor of this all-encompassing solution. 

YouTube Updates Its TV App for a More Interactive Video Experience

YouTube is unveiling significant updates to its TV app, aimed at enhancing interactivity without compromising on the viewing experience. The revamped design features a slight reduction in video size to incorporate chapters, comments, and video descriptions more prominently, offering an optional interactive interface alongside the traditional full-screen view. According to YouTube designers Joe Hines and Aishwarya Agarwal, this redesign prioritizes video visibility while integrating YouTube’s unique interactive elements smoothly. Feedback from user testing on various prototypes has shaped this new TV experience, which also explores incorporating shopping features by displaying products and QR codes for off-screen purchases. Additionally, the update, which will gradually roll out in the coming weeks, extends to YouTube TV, promising an improved way for subscribers to follow game scores without distraction.

OpenAI’s Sora Text-to-Video Generator Set for Public Release Later This Year

OpenAI’s text-to-video generator, Sora is set to become publicly available later this year. Sora can create hyperrealistic scenes from text prompts, Initially exclusive to creatives, some of the OpenAI videos have already appeared online. The future public version plans to include audio enhancements for more lifelike scenes and offer editing capabilities. OpenAI aims to manage Sora’s higher operational costs to keep it affordably priced, akin to its AI text-to-image model, DALL-E. In addition, OpenAI Sora will likely restrict images of public figures and embed watermarks in videos to signify AI origin.

Cadillac Unveils Teaser for ‘Opulent Velocity’ Electric V-Series Concept

Cadillac has teased an all-electric addition to its luxury performance line, the “Opulent Velocity” V-Series concept, without revealing specific production plans or specifications. The teaser showcases the vehicle’s sleek design, featuring a sloping hood and a distinctive illuminated Cadillac emblem, accompanied by an unusually loud sound for an electric vehicle, hinting at possible sound enhancement features akin to Dodge’s “Fratzonic Exhaust.” This concept celebrates the V-Series’ legacy and coincides with the 20th anniversary of its debut, underscoring Cadillac’s commitment to rivaling luxury performance brands like BMW M and Mercedes AMG. With electric vehicles’ aptitude for performance due to their swift acceleration and aerodynamics, Cadillac’s venture into electric V-Series models follows its participation in hybrid racing and marks a continuation of its V-Series celebration. Currently, Cadillac offers two EVs—the Lyriq SUV and the Celestiq sedan—and plans to expand its electric lineup with three more models in the near future.

Weekend Events | St. Patrick’s Day Weekend

Celebrate St. Patrick’s Day the Irish way, with a bevy of fun happenings around town. From parades to pub crawls and more, there is a clover field of local fun going on this weekend. Read on below for our round-up of the best weekend events!

Los Angeles Weekend Events | St. Patrick’s Day Weekend

Street Food Cinema: Great Gatsby Night

When: March 16 

Where: DTLA

What: Experience the opulence of Jay Gatsby’s world with a screening of Baz Luhrmann’s captivating movie, complemented by live jazz that encapsulates the essence of the 1920s. Master the Charleston with expert instruction, and savor era-inspired gourmet treats and cocktails from food trucks and vendors.

L.A. Marathon

When: March 17  

Where: Los Angeles

What: Starting at Dodger Stadium, the yearly marathon showcases physical resilience and communal unity, traversing 26.2 miles through Los Angeles. This edition circles back to West L.A., ending near Century City instead of its traditional Santa Monica finish. With over 25,000 runners, the event promises excitement not just for participants but for spectators, offering an equally thrilling experience.

St. Patrick’s Day Celebration at the Original Farmers Market

When: March 17 

Where: Fairfax and 3rd

What: Visit the Original Farmers Market on St. Patrick’s Day to enjoy Magee’s Kitchen’s corned beef, cabbage, and potatoes, along with green beer and Guinness at E.B’s and Bar 326. Catch the sound of Celtic melodies from a wandering bagpiper (12:30–3:30pm) and traditional Irish folk music (4–6pm).

 

Westside and Beach Communities Weekend Events | St. Patrick’s Day Weekend

Holi on the Beach

When: March 16 

Where: Redondo Beach

What: Celebrate the arrival of spring at the vibrant Indian festival of colors, given a unique L.A. flair. Revel in the tradition of tossing colored powder at each other against a backdrop of ocean waves and sandy beaches—just be prepared for your attire to become a canvas. Held at Seaside Lagoon in Redondo Beach, this event doubles as a fundraiser for the Association for India’s Development’s L.A. chapter, supporting grassroots initiatives in India.

Hermosa Beach St. Patrick’s Day Parade

When: March 16 

Where: Hermosa Beach

What: While Hermosa Beach may not be a green-clad shore, it embraces the Irish spirit with its annual St. Patrick’s Day parade. Expect bagpipers, marching bands, green-adorned cars, and festive dogs from the Irish Setters Club of Southern California to parade down the seven-block route. Starting near City Hall on Valley Drive, the procession moves west on Pier Avenue, finishing at Hermosa Avenue and 10th Street, where live music awaits at Pier Plaza.

Santa Monica St. Patrick’s Day Bar Crawl

When: March 15

Where: Britannia Pub | 318 Santa Monica Blvd

What: Ring in St. Patrick’s Day the Santa Monica way! Take part in this Saturday’s bar crawl for a fun night out on the town. The evening kicks off at Britannia Pub and makes its way through local bars and pubs.

 

San Fernando Valley Weekend Events | St. Patrick’s Day Weekend

Swingin’ Soul Night – St. Paddy’s

When: March 15

Where: The Mayflower Club | North Hollywood

What: Celebrate St. Patrick’s Day with a night of Swingin’ Soul! Enjoy Boilermaker drink specials, a spacious dance floor, complimentary dance lessons, and free parking. Dance the night away to the greatest soul and R&B hits from the ’50s and ’60s.

St Pawtrick’s Day Paws & Relax

When: March 17

Where: Liberate Yourself | 13323 Ventura Blvd

What: What better way to celebrate St Pawtrick’s Day then with some Sunday Self-Care Paws and Relax time with your furry best friend and mix and mingle with like-minded dog owners.

A Toast To Tony

When: March 17

Where: Valley Relics Museum

What: Pipers and drummers will entertain, setting the stage for a night of music and dancing in honor of Tony McNulty. Guests can indulge in beer, wine, and spirits from the pub and savor a unique taco bar with an Irish twist. The evening will also feature shared memories of McNulty’s St. Paddy’s celebrations, arcade games, and beverages for all ages. 

Conejo Valley Weekend Events | St. Patrick’s Day Weekend

Moorpark College Theatre Arts Presents “Sweeney Todd”

When: March 15, 8pm – 10pm

Where: Moorpark College

What: Moorpark College Theatre Arts Department presents Sweeney Todd: The Demon Barber of Fleet Street. Composer/lyricist Stephen Sondheim’s perfect score, Sweeney Todd is lush, operatic, and full of soaring beauty, pitch-black comedy, and stunning terror. Don’t miss these outstanding musical performances!

Bark in the Park at Conejo Creek Park North

When: March 16, 9am – 12pm

Where: 1379 E Janss Rd, Thousand Oaks

What: Join us for a tail-wagging good time at Bark in the Park! This pup-tacular event is happening on Saturday, March 16, 2024, from 9 AM to noon at Conejo Creek Park North, right behind the Thousand Oaks Library. Get ready for a dog costume contest, racetrack, entertainers, agility course, and plenty of vendors. Remember, friendly dogs only, and keep them leashed. It’s all free, with food for purchase. Don’t miss out on the furry fun!

St. Patrick’s Day Parade in Ventura

When: March 16, 10am – 12pm

Where: 211 E. Main Street, Ventura

What: Get your green on and join the fun at the Ventura Elks Lodge #1430’s annual St. Patrick’s Day Parade in Downtown Ventura! Kicking off in front of the San Buenaventura Mission on East Main Street, this festive march will make its way up to the corner of North Chestnut and East Main. With room for up to 100 entrants, it’s a celebration not to be missed. Let’s paint the town green!

Our Favorite Sushi Shops | LA Eats

Southern California is home to many excellent eateries, with cuisines from all around the world to suit all tastes. If you’re craving sushi, here are some of the best places around SoCal to fill up on delicious bites and other Japanese fares.

Top Sushi Shops to Check Out in LA

Sushi Kiriko

Sushi Kiriko is located along W Olympic Boulevard in West Los Angeles. Recognized in the prestigious Michelin Guide, chef Ken Namba creates delectable dishes that reflect the blend of authenticity and modern influences of sushi bars in Japan’s bustling capital of Tokyo. Inspired by the seasons, dishes use high-quality fish and fresh ingredients. Dining is in the traditional omakase style, where the chef decides the menu.

UMEDA

Sitting on Hollywood’s Melrose Avenue, UMEDA offers a wide variety of tantalizing dishes, including vegetarian, vegan, and gluten-free delights. Open weekdays for lunch and every day for dinner, the extensive menu has something to suit almost any palate. In addition, the restaurant has 12 types of steamed sushi, known as wappa, including shrimp avocado, sea eel, mixed mushrooms, and salmon.

California Rock’n Sushi

For great food in a fun atmosphere, check out California Rock’n Sushi in Koreatown. Dishes are a treat for the senses, combining delicious tastes with an artful presentation, and the menu includes creative fusion fare as well as sushi. Small dishes include the jalapeno bomb, sesame chicken, gyozas, and baked mussels. In addition, there is also the signature menu includes tuna tataki, salmon oyako, crunch onion albacore, and scallop with uni.

Top Sushi Shops to Check out in Westside and Beach Communities

Sakae Sushi

A well-loved establishment in Gardena, Sakae Sushi‘s budget-friendly options appeal to a diverse crowd. In operation since the early 1960s, the family-run sushi joint offers simple yet tasty homemade bites to go. The menu features just six items — tamago, California roll, saba, ebi, nori and inari — but the usual line outside shows how popular their food is. Note: the shop only accepts payments in cash.

Jinpachi

West Hollywood’s Jinpachi is a fabulously intimate place for a casual date night, although you can definitely treat yourself to a tasty sushi feast too! Likewise, the ambiance is relaxing and the menu caters to diverse tastes and budgets. Whether you splash out on the omakase or order deals from the a la carte menu, you won’t be disappointed. In addition, the regular menu includes other Japanese favorites like tempura, salads, crab, and chicken with ginger.

Sasabune Beverly Hills

The high-end Sasabune Beverly Hills exudes classic vibes and is often listed as one of the top sushi restaurants around LA. The omakase menu features several pieces of sushi, sashimi, and a roll, all expertly crafted by chef Nobi Kusuhara. Likewise, if you want a more traditional Japanese dining experience, try the more adventurous Japanese omakase, with items like sea urchin, salmon roe, and monkfish liver.

 

Top Sushi Shops to Check out in San Fernando Valley

Shin Sushi

Located in Encino, Shin Sushi has a coveted Michelin star. Open since 2018, the restaurant is known for its formal omakase style of dining. Essentially, patrons leave all decisions up to the talented chef, Taketoshi Azumi, who prepares tasty and artful authentic specialties from fresh seasonal ingredients. Savor a starter, soup and 14 pieces of sushi in an intimate refined atmosphere.

Sushi Note

A popular eatery in Sherman Oaks, Sushi Note offers both a la carte and omakase experiences. Chef Kiminobu Saito prepares tasty rolls and sashimi made from ingredients such as Japanese scallops, Canadian albacore, Spanish bluefin tuna, and Atlantic halibut. The menu also features a variety of roles and tempting appetizers like miso soup, edamame, and soft shell crab. In addition, the establishment is especially known for its extensive wine list and expert pairings.

Daichan

Eclectic and quirky, Daichan is a top sushi spot in Studio City. The dining room is filled with knickknacks and curios to capture your imagination as you sink your teeth into homey Japanese comfort food. Sushi rolls include salmon, tuna, eel, and cucumber, and the wide selection of bowls includes vegetarian-friendly options. In addition, Poki bowls, noodles, rice bowls, and seafood plates are just a few other items that might grab your attention.

Top Sushi Shops to Check out in Conejo Valley

Banzai Marina

The long-established Banzai Marina can be found near the main street in Ventura. There are indoor and outdoor dining areas, and you can also grab great food to go. In addition, you are welcome to bring your furry friend while you enjoy the nice weather on their patio. Known for its creative rolls, we recommend the namesake Banzai Marina roll, moonlight roll, ninja roll, and red dragon roll.

Q Sushi

An elegant establishment in Westlake Village, near Thousand Oaks, Q Sushi boasts an upmarket vibe, a tempting food menu, and a wide drinks menu. Try beautifully crafted cocktails with Japanese favorites made using fresh seasonal ingredients. From signature rolls, like the fire goddess, baked snow crab, and fatty bihn to luxurious carpaccio, skewers, and wagyu beef, there’s sure to be something that whets your appetite. Tempura battered Oreos and green tea churros are among the inventive dessert options.

ONYX

Located within the high-class Four Seasons Hotel in Westlake Village, ONYX promises a sophisticated setting. The dining room is modern with chic accents and you can order fresh-to-order delicacies at the sit-down bar. Likewise, there are several types of Japanese sake to accompany your meal.

The Arts District | Out & About

The Arts District in Los Angeles is a vibrant and bustling neighborhood filled with art galleries, restaurants, and shops. If you’re looking to spend a day exploring this unique neighborhood, we’ve got you covered.

The Arts District | In the AM

Start Your Day with Coffee and Breakfast

To kickstart your day, head to Zinc Cafe & Market, located on Mateo Street. The cafe is known for its artisanal coffee and fresh pastries. You can enjoy your breakfast on the outdoor patio and take in the vibrant street art that decorates the walls of the surrounding buildings.

Explore the Art Galleries

After breakfast, take a stroll to the Hauser & Wirth art gallery, which features a range of contemporary art exhibitions from renowned artists. The gallery also hosts talks and events, so be sure to check their schedule beforehand. Other notable galleries in the area include the Corey Helford Gallery and the Nicodim Gallery.

Shop at the Unique Boutiques

If you’re in the mood for some shopping, the Arts District has plenty of unique boutiques to explore. Make a stop at Alchemy Works, a lifestyle boutique that features clothing, home decor, and handmade goods from local artists. Another great option is Apolis, which offers men’s clothing and accessories made with sustainable and ethical practices.

 

The Arts District | In the Afternoon

 

Grab Lunch at Wurstkuche

For lunch, make your way to Wurstkuche, a popular German-style sausage and beer hall on 3rd Street. The menu features a variety of unique sausage options, including rattlesnake and rabbit, as well as vegetarian options. Wash it down with a cold beer or cider from their extensive selection.

Visit the Arts District Brewing Company

After lunch, head to the Arts District Brewing Company for a beer tasting. The brewery features a large selection of craft beers, many of which are brewed on-site. You can also play a round of darts or shuffleboard while you sip your beer.

The Arts District | In the Evening

End the Day with Dinner at Bestia

For dinner, make a reservation at Bestia, a contemporary Italian restaurant that has earned a reputation as one of the best restaurants in Los Angeles. The menu features handmade pasta dishes, wood-fired pizzas, and an extensive wine list. Be sure to save room for dessert because Bestia’s house-made gelato is a must!

From coffee to art to beer, the Arts District in Los Angeles has something for everyone. Follow this guide to experience some of the best that the neighborhood has to offer. Whether you’re a local or just visiting, the Arts District is a must-see destination for anyone who loves art, food, and culture.

The Best Spring Plants For Your Garden | Home Tips

While the rainy weather may suggest otherwise, Springtime has officially arrived. Spring is a season of renewal and growth, and what better way to celebrate than by filling your garden with beautiful, vibrant flowers? Here are some of the best spring flowers to plant in your home garden that will add color and fragrance to your outdoor haven.

Daffodils: 

These trumpet-shaped flowers are a classic sign of spring and come in a range of colors, including yellow, white, and orange. They are also deer-resistant and easy to grow, making them a popular choice for gardeners.

Tulips: 

spring garden

With their wide array of colors and elegant shape, tulips are a favorite for spring bouquets and garden beds alike. They come in a variety of colors and bloom midway through the season.

Hyacinths: 

One of the most fragrant spring flowers, hyacinths come in a range of pastel colors, including pink, blue, and lavender. They are also easy to grow and are perfect for planting in your borders, garden beds, or in patio pots.

Crocuses: 

spring garden

One of the earliest spring flowers to bloom, crocuses are a great way to add color to your garden as soon as the snow melts. They come in various colors and are also a favorite of bees and other pollinators.

Lilacs: 

With their signature fragrant blooms, lilacs are a beloved spring flower that ranges in color from white to pink and purple. They are a great addition to any garden and will add an elegant touch to your landscape.

Pansies: 

Known for their unique “faces,” pansies are a sweet addition to any garden and come in a variety of colors. They are also edible and can be used as a garnish for your spring salads.

Bleeding hearts: 

spring garden

With their heart-shaped blooms, bleeding hearts are romantic springtime flowers that are perfect for landscapes and cutting gardens. They come in pink, red, and white and add a touch of elegance to any spring garden.

In conclusion, planting any of these stunning spring flowers is a great way to welcome the season of growth and renewal into your garden. Not only will they add color and fragrance to your outdoor haven, but they will also attract bees and other pollinators, adding to the health and vitality of your garden. So get outside, put on your gardening gloves, and let the planting begin!

Economic Update | Week Ending March 9, 2024

Economic news this week centered around hiring, jobs, and Tech stocks. The job market remained hot, but not as hot as it appeared last month. Tech stocks that have had a giant rally this year gave up some ground this week. There was really no news that led to a slight sell-off except for Investors taking profits. Perhaps they feel that the sector has been overbought. Next week the Consumer Price Index will be released. With the Fed looking mainly at the tight labor market as inflationary, investors are waiting to see if the inflation rate will continue to tick down. The lower the inflation level and the higher the unemployment rate, the sooner the Fed will begin lowering interest rates from their 24-year high.

February hiring points to another robust month of job growth, while a downward January revision indicates that the job market is not as “red hot” as it appeared a month ago. – The Department of Labor and Statistics reported that 275,000 new jobs were added in February. That was higher than the 200,000 new jobs that analysts expected, and it marked the third straight month with job gains above 200,000 and the 38th consecutive month of job growth. January’s new jobs number was adjusted downward from 353,000 new jobs to 229,000. That was much closer to the 175,000 experts expected in January. The Department of Labor gave no explanation for such a large difference between the initial number and the revised number. The unemployment rate rose to 3.9% in February, up from 3.7% in January. While that is the highest unemployment rate in two years, unemployment is still at a level not seen since the 1960s. The Fed is looking to get the unemployment rate to the low to mid 4% range. With employers struggling to find workers, wage gains are outpacing the inflation rate. That leads to higher consumer spending which fuels inflation. Average hourly wages increased 4.3% year-over-year in February, down from 4.5% in January. Economists expected a 4.4% increase. Bond yields and mortgage rates ended the week lower. Investors and experts reported that they now feel that a rate drop by the Fed could be sooner than they thought a month ago due to the January revision, the rise in unemployment, and the slight year-over-year drop in wages.

Stock markets – The Dow Jones Industrial Average closed the week at 38,722.69, down 0.9% from 39,087.38 last week. It is up 3.7% year-to-date. The S&P 500 closed the week at 5,123.69, down 0.3% from 5,137.08 last week. The S&P is up 7.7% year-to-date. The Nasdaq closed the week at 16,085.11, down 1.2% from 16,274.94 last week. It is up 8.4% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.09%, down from 4.19% last week. The 30-year treasury bond yield ended the week at 4.26%, down from 4.33% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of March 7, 2024, were as follows: The 30-year fixed mortgage rate was 6.88%, down from 6.94% last week. The 15-year fixed was 6.22%, down from 6.26% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

Have a great weekend!
Remember that the time moves one hour forward at 2 AM on Sunday!

Mortgage Rate Update | March 7, 2024

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of March 7, 2024, were as follows: The 30-year fixed mortgage rate was 6.88%, down from 6.94% last week. The 15-year fixed was 6.22%, down from 6.26% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.