From Sonos to Meta’s VR Prototypes and More! | Tech News

Don’t miss the top headlines from across the web! Stay connected with what’s happening in the world of tech, from Sonos to Meta’s VR Prototypes and more, we have you covered. Check out this week’s tech news round-up!

Meta’s “Tiramisu” and “Boba 3” VR Research Prototypes

At SIGGRAPH 2025, Meta revealed three research prototype headsets—“Tiramisu,” “Boba 3,” and “Boba 3 VR”—showcasing advances in contrast, resolution, and field of view beyond current Quest devices. Tiramisu achieves roughly 3× the contrast and 3.6× the angular resolution of Quest 3, hitting up to 1,400 nits of brightness for lifelike visuals, though it is bulkier and heavier than consumer models. The Boba 3 variants use mass-production displays and Quest-style lenses to deliver a 180° horizontal and 120° vertical field of view—nearly matching the human visual system’s breadth. Both Boba 3 headsets pack 4K×4K per-eye resolution, up from 3K×3K in Boba 2 and 2K×1K in Boba 1 prototypes. Meta emphasizes these are purely research devices—novel concepts that may never ship—yet they provide a glimpse of future immersive experiences.

Microsoft Brings GPT-5 to Copilot with New Smart Mode

 

Microsoft has integrated GPT-5 into Copilot, Microsoft 365 Copilot, Azure AI Foundry, and GitHub Copilot—introducing a “Smart Mode” that dynamically selects between models for faster or deeper responses. The unified GPT-5 rollout coincides with OpenAI’s public launch, offering free and paid users access to advanced reasoning and logic tailored to enterprise and consumer tasks. Copilot’s Smart Mode eliminates manual toggles, automatically routing complex queries through the full GPT-5 model while handling simpler prompts with leaner versions. Microsoft 365 subscribers immediately gain improved context retention and multi-step reasoning for tasks like drafting reports or analyzing data. Developers can also use GPT-5 via Azure AI Foundry’s model router, ensuring the right variant powers each application.

DJI’s Romo Robovac Combines Drone Tech with a Transparent Design

DJI’s first robot vacuum, the Romo, leverages drone-inspired sensors and a unique transparent housing that reveals its inner workings—and it’s debuting in China first. Available in three models (Romo S, A, and fully transparent P), the lineup features binocular fisheye vision and wide-angle laser sensors running machine-learning perception algorithms to detect and avoid obstacles as fine as 2 mm cables. With up to 25,000 Pa of suction, dual roller brushes, and spinning mop pads, the Romo rivals Roomba’s top offerings while offering anti-tangle and debris-sensitive cleaning modes. The Romo’s dock auto-empties, cleans, refills, and charges the bot in 2.5 hours, while voice commands enable targeted cleaning or security-camera functions. Global availability is expected later this year, though U.S. launch details remain unconfirmed.

Sonos Voice Control Expands to Philips Hue Smart Home Integration

By year’s end, Sonos Voice Control will support Philips Hue lighting, allowing users to adjust lights with the same privacy-focused, local-processing assistant that already handles music, timers, and weather. Introduced in 2022 after Sonos acquired private-by-design AI startup Snips, the assistant keeps voice data entirely on the device, contrasting with cloud-based rivals. Philips Hue compatibility promises commands like “turn living-room lights to 50 percent” or “activate movie time scene” directly through Sonos speakers. While specifics await a Philips Hue media event at IFA 2025, the move signals Sonos’ ambition to become a central smart-home hub. This integration bridges audio and lighting, streamlining home control under one privacy-first interface.

Instagram Adds TikTok-Style Reposts Feed and Snap Map–Inspired Locator

Instagram this week rolled out a reposts feature for Reels and grid posts, letting users “reblog” content into a new tab on their profile and into followers’ feeds—mirroring TikTok’s repost button. It also introduced an opt-in “Your Map” feed in DMs that displays friends’ last shared locations and public posts tagged at events or venues, borrowing heavily from Snapchat’s Snap Map. Additionally, the Reels Activity tab now offers granular controls—users can hide their own likes and reposts or mute others’ interactions to reduce unwanted visibility. These features reflect Instagram’s shift toward short-form video and discovery, though some creators worry about reduced photo reach. As feeds become more recommendation-driven, these updates deepen engagement but may further marginalize traditional photo sharing

Weekend Events | August 8 – August 10

Explore what’s happening in your neighborhood August 8 through August 10 with our weekend round-up of fun events! From wine tastings to summer movie series and more, we have you covered on local happenings. Check out LA’s top events!

Los Angeles Weekend Events | August 8 – August 10 

Jurassic Park in Concert

When: August 8 – August 9

Where: Hollywood Bowl

What: It’ll be hard not to get emotional during the iconic “Welcome to Jurassic Park” scene as Gustavo Dudamel leads the L.A. Phil in a live performance of John Williams’s soaring score from the original—and still the best—installment of the dinosaur saga.

Friday Night Wine Tastings

When: Until September 26 

Where: Los Feliz

What: A beloved L.A. summer tradition, Barnsdall Park’s Friday night wine tastings offer boutique pours from Silverlake Wine atop the scenic west lawn of the historic Hollyhock House. Guests can enjoy sweeping sunset views, bring a picnic or grab a bite from on-site food trucks, and even tour the house for an added fee. Now a 21+ event, it’s an ideal date night that supports local art programs and preservation efforts.

Griffith Park Free Shakespeare Festival

When: Until August 31 

Where: Griffith Park 

What: Every summer, Shakespeare lovers flock to Griffith Park’s Old Zoo to experience classic plays under the stars, thanks to Independent Shakespeare Co.’s long-running free series. Now in its 15th year, the tradition continues with Love’s Labour’s Lost and Doctor Faustus, staged in the intimate dell area while construction on a permanent main lawn stage is underway. Space is limited this season, so while admission remains free, advance reservations are a must—don’t forget your picnic blanket!

Westside and Beach Communities Weekend Events | August 8 – August 10  

The Kingdom of Pylos: Warrior-Princes of Ancient Greece

When: Until January 21, 2025

Where: The Getty Villa

What: The Getty Villa reopens following a months-long closure with a landmark exhibition on the Greek Mycenaean civilization—the first major North American show dedicated to this Late Bronze Age culture. Featuring artifacts from the kingdom of Pylos, including discoveries from the Palace of Nestor and the famed Griffin Warrior tomb, the exhibition showcases gold cups, clay tablets, intricately carved weapons, and stunning sealstones. A must-see for fans of ancient history and Homeric epics.

Summer Movie Series at Ivy Station

When: Until October 3 

Where: The Skirball Cultural Center

What: Catch classic high school flicks under the stars at Culver City’s free summer movie series, held on the lawn next to the E Line Metro stop. This season features favorites like Ferris Bueller’s Day Off, Clueless, 10 Things I Hate About You, and Mean Girls. Enjoy complimentary popcorn and two hours of free parking with your ticket.

Sunday Sessions at the Malibu Pier

When: Until September 14 

Where: Malibu

What: Cruise the reopened PCH to Malibu Pier and show your support for local businesses as they recover from the Palisades Fire. Every second Sunday this summer, enjoy free live music from Aviator Nation Dreamland, delicious food and drinks, and pop-ups from local vendors along the boardwalk. A portion of all purchases benefits California State Parks—making it a perfect way to spend your Sunday by the sea.

San Fernando Valley Weekend Events | August 8 – August 10   

DIY Soil Remediation for Native Gardens with Lynn Fang

When: August 9 

Where: Theodore Payne Foundation

What: Learn how to detoxify post-fire soils in this hands-on ecological sock workshop led by soil experts Lynn Fang and Maggie Smart-McCabe. Using compost, microbes, and mycelium, you’ll create filtration traps designed to minimize contaminants and restore garden health. All materials are provided, and you’ll leave with your own soil-reviving sock and new insights into regenerative practices.

Full Moon Nature Night Hike

When: August 8 

Where: Griffith Park | 2700 N Vermont Ave

What: Join naturalist Jason Wise for a guided sunset-to-night hike near Griffith Park, inspired by his popular Yosemite program for kids. Explore how plants and animals like bats, owls, and night-blooming flowers adapt to darkness, all while hiking without headlamps to let your eyes adjust naturally. This fun and educational evening adventure includes interactive games and a deeper look at nocturnal ecosystems.

Macrame Bracelet Making Workshop

When: August 9 

Where: Tansy | 2120 West Magnolia Boulevard, Burbank

What: Tap into your creativity at this hands-on macramé bracelet-making workshop, perfect for beginners and craft lovers alike. Choose from colorful cords and unique charms as you learn basic techniques and create a custom bracelet with step-by-step guidance. All materials are provided, and you’ll leave with a personalized keepsake and a new skill.

Conejo Valley Weekend Events | August 8 – August 10  

Friends Bookshop Sale

When: August 9 – August 10

Where: Thousand Oaks Grant R. Brimhall Library

What: Shop an out-of-this-world selection of sci-fi and fantasy books during the Friends of the Thousand Oaks Library book sale, happening August 9–10 at the Grant R. Brimhall Library. Timed to coincide with the LibCon pop culture convention, the sale will feature everything from Star Wars and Manga to Magic Treehouse and comic books, plus DVDs and video games. Most items are priced at $1 or less, with all proceeds supporting community library programs.

Ventura County Fair

When: Until August 10 

Where: Camarillo Premium Outlets | 740 Ventura Blvd

What: The Ventura County Fair returns this week, at the Ventura County Fairgrounds, with 12 days of family fun, food, live music, carnival rides, farm animals, exhibits, and entertainment. Enjoy grandstand concerts from stars like Diplo, Flo Rida, and Scotty McCreery, tribute bands nightly, plus special themed days like $5 admission, Youth Day, and Community Heroes Day. 

Dallas Cowboys Training Camp

When: Until August 13 

Where: 2501 Ventura Road, Oxnard

What: The Dallas Cowboys return to Oxnard for their 2025 Training Camp from July 22 to August 13 at the River Ridge Playing Fields. Fans are invited to attend open practices for free, with no tickets required, and enjoy live entertainment, autograph signings, and Cowboys merchandise. Highlights include Cowboys Back Together Weekend on July 26 and Heroes Appreciation Day on July 31, with optional VIP experiences available for purchase.

Mortgage Rate Update | August 7, 2025

MRU

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 August 7, 2025, were as follows:

The 30-year fixed mortgage rate was 6.63%, down from 6.72% last week. The 15-year fixed was 5.75%, down from 5.85% 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.

2025 Michelin Stars of California | L.A. Eats

California’s 2025 Michelin-star lineup continues to affirm the Golden State as one of the world’s top dining destinations. From the serene coastlines of Santa Barbara to the hidden sushi counters of Downtown Los Angeles, this year’s stars represent an exciting mix of culinary innovation, timeless technique, and regional pride. Here’s your definitive guide to every Michelin-starred restaurant in California this year.

Three-Star Restaurants

Providence

Location: 5955 Melrose Ave, Los Angeles, CA 90038

Chef Michael Cimarusti’s iconic seafood destination earns its long-awaited third star with a refreshed dining room and a flawless tasting menu. With its precise execution and warm hospitality, Providence remains one of LA’s finest expressions of fine dining.

Somni

Location: 9045 Nemo St, West Hollywood, CA 90069

Reopened in West Hollywood, Somni returns with a theatrical 20-plus course experience that blends Spanish tradition with molecular artistry. Chef Aitor Zabala’s immersive tasting menu places diners at the heart of the action along a curved bar counter.

Two-Star Restaurants

Mélisse

Location: 1104 Wilshire Blvd, Santa Monica, CA 90401

Josiah Citrin’s fine dining stronghold continues to impress with a seamless tasting menu, extensive wine pairings, and elegant service. Mélisse maintains its place as one of Santa Monica’s most refined culinary destinations.

Hayato

Location: 1320 E 7th St #126, Los Angeles, CA 90021

Chef Brandon Go’s intimate kaiseki experience is limited to just seven guests per seating and is rooted in tradition, delicacy, and craft. From handmade ceramics to seasonal Japanese ingredients, every detail is meticulously considered.

Vespertine

Location: 3599 Hayden Ave, Culver City, CA 90232

Vespertine is an architectural and culinary marvel from Jordan Kahn that offers a multi-floor, 16-course sensory experience. The futuristic tasting menu is both cerebral and deeply artistic.

One-Star Restaurants

Six Test Kitchen

Location: 3075 Blue Rock Rd, Paso Robles, CA 93446

This intimate Central Coast restaurant serves a 12-course tasting menu that draws inspiration from local produce. With just two seatings per night, the experience is exclusive and focused on seasonal storytelling.

Bell’s

Location: 406 Bell St, Los Alamos, CA 93440

French elegance meets California bounty at this charming Los Alamos bistro. Bell’s offers an à la carte lunch and a thoughtful pre-fixe dinner that blends technique with comfort.

Caruso’s

Location: 1773 S Jameson Ln, Montecito, CA 93108

Located in the Rosewood Miramar Beach, Caruso’s offers Italian-influenced prix fixe menus by chef Massimo Falsini. The ocean views and curated wine pairings elevate the luxurious experience.

Silvers Omakase

Location: 224 Helena Ave, Santa Barbara, CA 93101

Chef Lennon Silvers Lee brings his edomae expertise to this refined omakase counter. The menu highlights traditional sushi techniques and features house-milled Japanese rice.

Shin Sushi

Location: 16573 Ventura Blvd, Encino, CA 91436

Tucked away in the San Fernando Valley, Shin Sushi delivers a classic omakase experience guided by chef Taketoshi Azami. The setting is unassuming, but the technique is world-class.

Pasta Bar

Location: 16101 Ventura Blvd #255, Encino, CA 91436

Phillip Frankland Lee and Margarita Kallas-Lee’s pasta-focused tasting menu celebrates seasonal California ingredients. Dishes are elevated yet approachable, served in an elegant setting.

UKA

Location: 6801 Hollywood Blvd, Los Angeles, CA 90028

Located inside Japan House, UKA delivers a kaiseki experience with optional shabu-shabu featuring top-quality ingredients from Japan and California. Each dish is artfully presented and seasonally driven.

Gwen

Location: 6600 Sunset Blvd, Los Angeles, CA 90028

Chef Curtis Stone’s Hollywood steakhouse balances Art Deco glamour with a meat-centric menu. Gwen will soon relocate to the Westside but continues to impress in its current form.

Meteora

Location: 6703 Melrose Ave, Los Angeles, CA 90038

Chef Jordan Kahn’s fire-inspired menu plays with smoke and flame across multiple tasting formats. With options from lounge à la carte to a full omakase, the experience is as versatile as it is bold.

Osteria Mozza

Location: 6602 Melrose Ave, Los Angeles, CA 90038

Nancy Silverton’s upscale Italian classic still delivers expertly made pastas and a standout mozzarella bar. The atmosphere is lively and the flavors are deeply satisfying.

Gucci Osteria da Massimo Bottura

Location: 347 N Rodeo Dr, Beverly Hills, CA 90210

This designer-forward dining room offers playful and luxurious Italian fare in partnership with fashion house Gucci. It’s an extravagant experience both in style and in flavor.

Nozawa Bar

Location: 212 N Canon Dr, Beverly Hills, CA 90210

Hidden behind Sugarfish in Beverly Hills, Nozawa Bar offers over 20 courses of meticulously prepared omakase. The intimate space ensures an unforgettable sushi Michelin experience.

Orsa & Winston

Location: 122 W 4th St, Los Angeles, CA 90013

Josef Centeno’s intimate tasting menu in DTLA continues to fly under the radar despite delivering consistently thoughtful, seasonal dishes. The dining experience remains personal and refined.

Camphor

Location: 923 E 3rd St, Suite 109, Los Angeles, CA 90013

French techniques meet subtle Asian influence at this stylish Arts District spot from chefs Lijo George and Max Boonthanakit. The menu is polished without being pretentious.

715

Location: 738 E 3rd St, Los Angeles, CA 90013

Chef Seigo Tamaru’s omakase experience quickly earned a star for its modern take on sushi. Located in the Arts District, it’s already one of LA’s hottest new reservations.

Shibumi

Location: 815 S Hill St, Los Angeles, CA 90014

Chef David Schlosser’s kappo-style tasting menu is deeply Japanese with a focus on simplicity and flavor. The Michelin starred small menu is designed to showcase harmony and purity.

Kato Restaurant

Location: 777 S Alameda St Building 1, Suite 114, Los Angeles, CA 90021

Jon Yao’s polished Downtown restaurant blends Taiwanese roots with fine-dining techniques. The tasting menu is thoughtful, elevated, and rich in personal storytelling.

N/Naka

Location: 3455 Overland Ave, Los Angeles, CA 90034

Chefs Niki Nakayama and Carole Iida-Nakayama continue their elegant kaiseki-inspired menu in a newly redesigned space. California ingredients remain at the heart of each dish.

Citrin Restaurant

Location: 1104 Wilshire Blvd, Suite A, Santa Monica, CA 90401

Citrin’s à la carte menu offers refined comfort with dishes like roasted chicken and lobster Bolognese. It’s a relaxed yet upscale counterpoint to Mélisse next door which is also Michelin rated.

Holbox

Location: 3655 S Grand Ave, Los Angeles, CA 90007

Chef Gilberto Cetina’s Yucatán-style seafood spot inside Mercado La Paloma excels with dishes like ceviche and octopus tacos. Tasting menus are offered by reservation on select nights.

Heritage

Location: 2030 E 7th St, Long Beach, CA 90804

Long Beach’s first Michelin starred restaurant is a family-run spot celebrating California’s agricultural richness. The multi-course tasting menu highlights local seafood, meats, and produce.

Knife Pleat

Location: 3333 S Bristol St, Costa Mesa, CA 92626

This elegant Orange County restaurant from chef Tony Esnault offers classic French technique in a sleek setting. It remains one of the region’s most acclaimed fine-dining spots.

The Best Local Beaches | Out & About

When the summer sun shines brightly over Los Angeles, there’s no better way to beat the heat than by heading to the beautiful beaches that line the city’s coastline. From iconic stretches of sand to hidden coves, LA offers a diverse array of beaches to suit every beachgoer’s preference. Join us as we take you on a sandy adventure through the top 10 beaches in Los Angeles, complete with stunning photos, detailed descriptions, and recommendations for beach activities.

Santa Monica Beach:

As one of LA’s most famous beaches, Santa Monica Beach is a must-visit for locals and tourists alike. The vibrant pier, lined with fun rides and bustling restaurants, adds to the beach’s charm. Grab an ice cream cone, rent a bike, and cruise along the boardwalk to experience the quintessential Santa Monica vibe.

Venice Beach:

Just a stone’s throw away from Santa Monica, Venice Beach exudes an eclectic and bohemian atmosphere. The Venice Beach Boardwalk is a haven for street performers, artists, and vendors. Don’t miss the chance to see the iconic Muscle Beach outdoor gym and enjoy a leisurely stroll through the bustling marketplace.

Malibu Surfrider Beach:

Located in the heart of Malibu, Surfrider Beach is a paradise for surfers and beach lovers. With its perfect waves and scenic beauty, it’s a fantastic spot to watch local surfers showcase their skills. The Malibu Pier is an ideal spot for fishing and offers breathtaking views of the coastline.

Zuma Beach:

Stretching for nearly three miles, Zuma Beach is a family-friendly haven with ample parking, restrooms, and lifeguards on duty. It’s an excellent spot for picnicking, beach volleyball, and building sandcastles. The clear waters and gentle waves make it a favorite for swimming and relaxing by the shoreline.

El Matador Beach:

For a more secluded and romantic beach experience, head to El Matador Beach. This hidden gem, nestled between rocky cliffs, offers dramatic ocean views and picturesque sea caves. Be prepared to navigate a steep trail to reach the beach, but the breathtaking scenery makes it all worthwhile.

Leo Carrillo State Beach:

Leo Carrillo State Beach is a perfect blend of sandy shores, tide pools, and rugged rocks. It’s a fantastic spot for exploring marine life during low tide and enjoying a peaceful beach day away from the crowds. Bring your camera, as the tide pools are teeming with fascinating creatures.

Manhattan Beach:

With a charming downtown area and a beautiful beach, Manhattan Beach is a favorite among locals for its lively atmosphere. Enjoy beach volleyball matches, surfing, and sunbathing, then take a stroll along the Strand to admire stunning beachfront homes.

Dockweiler State Beach:

For those looking to have a beach bonfire, Dockweiler State Beach is the place to be. It offers designated fire pits and barbecues, making it perfect for picnics and roasting marshmallows under the stars. Additionally, its proximity to LAX provides a unique backdrop of planes taking off and landing.

Point Dume State Beach:

Nestled on the Malibu coast, Point Dume State Beach boasts stunning cliffside views and picturesque trails. Hike up the bluff to catch sight of migrating whales or take in the breathtaking sunset views over the Pacific Ocean.

Hermosa Beach:

Hermosa Beach offers a laid-back and friendly atmosphere, perfect for unwinding and soaking up the sun. It’s an ideal spot for beach volleyball enthusiasts and features a beautiful pier that’s great for fishing and capturing incredible sunsets.

So, whether you’re seeking bustling boardwalks, serene coves, or perfect surf breaks, Los Angeles’ beaches have it all. Each beach offers a unique experience, so grab your sunscreen, beach towel, and sense of adventure, and get ready to explore the best of LA’s coastal wonders this summer.

Creating Your Luxury Home Theater Experience | Home Tips

For many luxury homeowners, a private cinema isn’t just a bonus—it’s a must. Offering a personal escape to the world of films, TV shows, and gaming, the home theater becomes the heart of entertainment. To ensure you get the truest and most luxurious cinematic experience at home, follow these steps to create your ultimate home theater.

1. The Perfect Space

Begin by selecting a room that can be dedicated to your home theater. Preferably, it should be away from the house’s main traffic areas, have limited natural light, and be spacious enough to accommodate seating, equipment, and potentially even a mini-bar or popcorn machine.

2. Soundproofing

Sound is as critical as the visuals. Use acoustic panels, soundproofing curtains, and carpeting to minimize sound leakage and optimize audio within the room.

3. The Right Screen

The heart of your theater is the screen. Depending on your preference, you can opt for a large OLED TV or a 4K UHD projector. Ensure the size is proportional to the room for the best viewing experience.

4. Superior Sound System

Invest in a high-quality sound system, like Dolby Atmos, which provides an immersive 3D sound experience. Consider a 7.1 or even 9.2 channel setup, ensuring speakers are strategically placed for optimal audio.

5. Comfortable Seating

Seating plays a pivotal role in the viewing experience. Invest in plush, reclining seats, preferably with built-in massage features and heated cushions. Remember, the aim is luxury and comfort.

6. Control Systems

Incorporate smart systems that allow you to control lighting, sound, and visuals via a remote or voice control. The best home theaters make adjustments effortlessly, from dimming lights to adjusting the volume.

7. Personalized Aesthetics

Your theater should reflect your style. Consider bespoke wall coverings, unique light fixtures, and even art. Think of elegant, cozy curtains and possibly a starlight ceiling for that magical touch.

8. Bar and Snacks

Consider adding a mini-bar stocked with your favorite beverages. For a classic cinema experience, a popcorn machine or even a candy counter can be a delightful addition.

9. Gaming Integration

For those who love gaming, integrate the latest gaming consoles. With the superior sound and visuals of your theater, gaming sessions will be an unparalleled experience.

10. Climate Control

Maintain the perfect ambiance with a good HVAC system or smart climate control. This ensures you remain cozy during those binge-watching sessions.

11. Regular Maintenance

Your luxury theater is an investment. Schedule regular maintenance checks for your equipment. This ensures longevity and the best performance each time you settle in for a movie.

12. Expand with Technology

Stay updated with the latest in audio-visual technology. With the rapid advancement in tech, there’s always something new that can enhance your viewing experience.

Setting up the ultimate luxury home theater is a journey of personalization, a blend of state-of-the-art technology and your personal touch. By paying attention to every detail and choosing the best equipment, you can transport yourself to magical worlds right from the comfort of your home. Lights, camera, action! Enjoy your luxury cinematic experience.

Economic Update | Week Ending August 2, 2025

Weekly Economic Update; WEU

This week marked an unusual amount of economic news and reports.

U.S. economy posts robust growth in second quarter – The Gross Domestic Product (GDP) for the second quarter increased at an annual rate of 3% according to the US Bureau of Economic Analysis. This was a tremendous turnaround from a 0.5% drop in the first quarter of the year.

Fed’s favorite gauge of inflation shows inflation heated up in June – The Personal Consumption Expenditure Index (PCE), the Fed’s preferred index for gauging inflation, jumped 2.6% at an annual rate in June, up from 2.4% in May. That marked the highest inflation level since February and more importantly a sign that inflation, which has steadily decreased since peaking in 2022 is beginning to rise.

Federal Reserve leaves interest rates unchanged – The Fed met this week and decided to leave interest rates unchanged. President Trump has been criticizing Fed Chairman Powell for not lowering rates now that inflation is closer to the Fed’s 2% target rate after peaking at 9% in 2022. Powell has cited inflation potential due to tariffs as the Fed’s reluctance to lower rates.

U.S. job growth stalled in July – The Bureau of Labor and Statistics reported that 73,000 new jobs were added in July. That was far below the number of jobs that analysts had forecasted, suggesting that the job market may finally be showing signs of stalling. The unemployment rate increased slightly to 4.2%, up from 4.1% in June. The hiring numbers for May and June were also revised sharply lower. The revised figures brought the number of new jobs down in those two months by 258,000, a huge reduction from the initial figures reported. May was revised from 125,000 new jobs to 19,000, and June was revised from 14,000. This took everyone by surprise. Following the release, President Trump abruptly fired the commissioner of the Bureau of Labor Statistics, stating that she manipulated the monthly jobs report for political purposes.

Stock Markets – Stock markets dropped sharply this week on fears that hiring had slowed and that tariffs were beginning to stall growth. The Dow Jones had its worst week since April, and the S&P had its worst week since May 23, snapping 6 consecutive weeks of gains and record highs. The Dow Jones Industrial Average closed the week at 43,588.58, down 2.9% from 44,901.92 last week. Year-to-date, it is down 2.1% from 44,544.66 on December 31, 2024. The S&P 500 closed the week at 6,238.01, down 2.4% from 6,388.64 last week. Year-to-date, the S&P is up 3.3% from 6,040.53 on December 31, 2024. The Nasdaq closed the week at 20,650.13, down 2.2% from 21,108.32 last week. Year-to-date it is up 5.2% from 19,627.44 on December 31, 2024.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.23%, down from 4.40% last week. The 30-year treasury bond yield ended the week at 4.81%, down from 4.92% 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 July 31, 2025, were as follows: The 30-year fixed mortgage rate was 6.72%, nearly unchanged from 6.74% last week. The 15-year fixed was 5.85%, nearly unchanged from 5.87% last week.

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

Have a Great Weekend!

Economic Update | Month Ending July 31, 2025

The economy continued to pick up steam in July – Although stock markets ended the month off their record highs set in the third week of July, stocks are still up significantly from their April lows. For example, the Nasdaq is up 36% from its April low of 15,587, and the S&P is up 24% from 5,074 on April 4. The U.S. economy rebounded strongly from the first quarter. The Gross Domestic Product (GDP) was -0.5% in the January to March 2025 quarter, a sign that the country may have been entering into a recession, which is defined by two consecutive quarters of negative growth. In the second quarter, from April to June 30, GDP jumped to 3%. That is an incredible turnaround. The job market has been strong as well. Both May and June hiring were well above expectations. We will get the July jobs report on Friday, August 1st.

Tariff update – President Trump announced that he has reached trade deals or the framework of trade deals with the European Union, South Korea, Japan, Indonesia, the Philippines, the United Kingdom, Vietnam, Thailand, and Cambodia. A partial framework has been discussed with China. Malaysia, Mexico, South Africa, and India have been granted temporary reprieves from the August 1, 2025, deadlines.

Inflation increased in June – The Consumer Price Index (CPI) jumped to an annual increase of 2.7% in June. That is up from 2.3% in April, its lowest reading since early 2021, and 2.4% in May. Core CPI, which excludes volatile costs like food and energy, was up 2.9% year-over-year, up from 2.8% in May. We have been closely following the inflation data because it has a direct correlation to interest rates. The Fed has put off interest rate reductions in fear that tariffs will lead to higher prices for consumers. As the Fed expected, after dropping steadily since peaking in 2022, inflation is now showing signs of heating up again. The Personal Consumption Expenditures (PCE)report, the Fed’s preferred measure of inflation, jumped as well. Month-over-month headline PCE jumped 0.3%, up from 0.2% in May, and reached a 2.6% year-over-year increase, up from a 2.4% year-over-year increase in May. That marked its highest inflation level since February.

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The Federal Reserve held rates steady in July – With inflation indexes showing that inflation is picking up, GDP growth jumping, and the job market strong, the Fed decided not to drop interest rates in July despite pressure from President Trump to do so.

Stock markets ended the month near record highs – The Dow Jones Industrial Average ended the month at 44,230.98, up 0.3% from 44,094.77 on June 30, 2025. The Dow is down 0.7% year-to-date. The S&P 500 closed the month at 6,339.34, up 2.2% from 6,204.95 on June 30, 2025. It is up 5% year-to-date. The NASDAQ closed at 21,122.45, up 8.6% from 20,369.73 on June 30, 2025. It is up 7.6% year-to-date.

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 July 31, 2025, were as follows: The 30-year fixed mortgage rate was 6.72%, down from 6.77% last month. The 15-year fixed was 5.85%, down from 5.89% last month.

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

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U.S. existing-home sales stalled in June 2025 – The National Association of Realtors reported that existing-home sales totaled 3.93 million units on a seasonal annualized rate in June, down 2.7% from an annualized rate of 3.93 million units in May. The median price paid for a home sold in the U.S. in June was $435,300, up 2%from $426,900 one year ago. There was a 4.7-month supply of homes for sale in June, up from a 4-month supply in June 2024. First-time buyers accounted for 30% of all sales. Investors and second-home purchases accounted for 16% of all sales. All cash purchases accounted for 29% of all sales. Foreclosures and short salesaccounted for 3% of all sales

California existing-home sales – The California Association of Realtors reported that existing-home sales totaled 264,260 on an annualized basis in June, up 4% from 254,190 in May. Year-over-year sales were down 0.3% from a revised 264,960 annualized home sales last June. The statewide median price paid for a home in was $899,720 in June, down 0.1% from $900,720 in June 2024. There was a 3.8-month supply of homes for sale in June, up from a 3-month supply of homes for sale one year ago.

The graph below lists home sales data by county in Southern California.
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Mortgage Rate Update | July 31, 2025

MRU

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 July 31, 2025, were as follows:

The 30-year fixed mortgage rate was 6.72%, nearly unchanged from 6.74% last week. The 15-year fixed was 5.85%, nearly unchanged from 5.87% 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.

Weekend Events | August 1 – August 3

Check out what’s happening in your neighborhood August 1 through August 3 with our weekend round-up of fun events! From county fairs to Broadway revivals and more, we have you covered on local happenings. Kick off the month of August with LA’s top events!

Los Angeles Weekend Events | August 1 – August 3 

KCON

When: August 1- August 3 

Where: DTLA

What: If you’re a fan of all things Hallyu, don’t miss this annual K-pop celebration at the L.A. Convention Center. The three-day event features panels, workshops, meet-and-greets, and more—plus star-studded concerts at Crypto.com Arena on Saturday and Sunday. It’s a full weekend of Korean pop culture, music, and fandom.

Jesus Christ Superstar

When: August 1 – August 3 

Where: Hollywood Bowl 

What: Catch a star-studded production of Jesus Christ Superstar at the Hollywood Bowl, featuring Cynthia Erivo as Jesus and Adam Lambert as Judas. This electrifying rock opera by Andrew Lloyd Webber and Tim Rice also includes Milo Manheim, Raúl Esparza, Josh Gad, and Phillipa Soo in a powerful reimagining of the final days of Jesus of Nazareth.

L.A. River Fest

When: August 3 

Where: Chinatown

What: Celebrate the creative spirit of the L.A. River at this free annual event hosted by Friends of the L.A. River. Held at L.A. State Historic Park, the day features live music, Aztec dance performances, hands-on eco-art activities, food trucks, and a vendor marketplace with 40 local booths. Admission is free with advance registration required.

Westside and Beach Communities Weekend Events | August 1 – August 3 

Lady Gaga

When: Until August 2 

Where: Inglewood

What: Fresh off her show-stopping Coachella performance, Lady Gaga is bringing the Mayhem Ball tour to the Forum this summer. Fans can look forward to a high-energy night packed with new dance-pop anthems and beloved classics.

U.S. Open of Surfing

When: Until August 3 

Where: Huntington Beach

What: The U.S. Open of Surfing returns to Huntington Beach, drawing the world’s top surfers for a week of thrilling competition and big prize money. Beyond the waves, the beachside fest includes live music, a sports expo, and lively after-parties with SoCal flair. It’s the ultimate summer hangout for surf fans and sun seekers alike.

Wende Zine Fest

When: August 2

Where: Culver City

What: Head to Culver City for the Wende Museum’s inaugural Zine Fest, a free weekend event celebrating independent publishing and artistic expression. Browse work from over 40 local creators, take part in zine-making and figure-drawing workshops, and explore rare Cold War-era underground publications.

 

San Fernando Valley Weekend Events | August 1 – August 3  

The 40th Fan Bash with Doc’s Time Machines & Friends | Back to the 818

When: August 2 

Where: Valley Relics Museum | Van Nuys

What: Get ready to go Back to the 818 with Doc’s Time Machines and The Flux Capacitors for an unforgettable night of music, movie cars, and fan-favorite stars from Back to the Future! Held at the Valley Relics Museum in Van Nuys, the event features a live “Earth Angel” performance by Harry Waters Jr. (Marvin Berry), cast appearances, screen-accurate DeLorean replicas, and more. With live music, autographs, photo ops, and VIP perks, it’s a family-friendly celebration that’s perfect for superfans and new time travelers alike.

Bandrika Presents: Hand-Cranked Silent Shorts With Live Organ

When: August 2 

Where: Bandrika Studios | 6120 Yolanda Avenue

What: Join us at Bandrika for a one-of-a-kind evening of silent film magic, accompanied live on the Barr-Fox Wurlitzer by acclaimed theatre organist Mark Herman. Enjoy an eclectic lineup of classic shorts—including A Trip to the Moon and One Week—brought to life with original 35mm projection by hand-crank projectionist Joe Rinaudo. It’s a nostalgic night of cinematic artistry, live music, and a few delightful surprises!

Pours for Paws: First Annual Craft Beer Festival

When: August 2 

Where: Vintage Wine & Spirits | 16938 Saticoy Street

What: Raise a glass for a good cause at the first annual Pours for Paws Craft Beer Festival, hosted by Vintage Wine & Spirits in Lake Balboa on Saturday, August 2, 2025. Enjoy unlimited tastings from local craft breweries, food vendors, live music, and a dog-friendly atmosphere—all in support of LA Animal Services. VIP entry starts at 5 PM with food coupons included; general admission begins at 6 PM.

Conejo Valley Weekend Events | August 1 – August 3 

Ventura County Fair

When: Until August 10 

Where: Camarillo Premium Outlets | 740 Ventura Blvd

What: The Ventura County Fair returns this week, at the Ventura County Fairgrounds, with 12 days of family fun, food, live music, carnival rides, farm animals, exhibits, and entertainment. Enjoy grandstand concerts from stars like Diplo, Flo Rida, and Scotty McCreery, tribute bands nightly, plus special themed days like $5 admission, Youth Day, and Community Heroes Day. 

Dallas Cowboys Training Camp

When: Until August 13 

Where: 2501 Ventura Road, Oxnard

What: The Dallas Cowboys return to Oxnard for their 2025 Training Camp from July 22 to August 13 at the River Ridge Playing Fields. Fans are invited to attend open practices for free, with no tickets required, and enjoy live entertainment, autograph signings, and Cowboys merchandise. Highlights include Cowboys Back Together Weekend on July 26 and Heroes Appreciation Day on July 31, with optional VIP experiences available for purchase.

Camarillo Marathon, Half Marathon, 10K, and 5K

When: August 3 

Where: Pleasant Valley Fields | 150 Westpark Ct, Camarillo

What: The Camarillo Marathon returns on Sunday, August 3, 2025, with race options for all levels, including a full marathon, half marathon, 10K, and 5K. The scenic course winds through the Camarillo Bike Path and surrounding roads, starting and finishing at Pleasant Valley Fields. Whether you’re a seasoned runner or just out for fun, it’s a great day to hit the pavement in Ventura County.