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Home Safety Advice for Vacation Season | Home Tips

Summer vacation is a time for relaxation, adventure, and escaping everyday routines. However, the joy of going on vacation can quickly be overshadowed by the worry of leaving your home unprotected. This blog post will share home safety tips to keep your home secure during the vacation season. After all, peace of mind is the best travel companion.

1. Don’t Advertise Your Absence

In the age of social media, it’s tempting to post every update of your vacation in real-time, but it can also be an open invitation to potential burglars. Our safety tip: avoid announcing your vacation plans on social media or in public spaces where strangers can overhear.

2. Invest in Timers for Lights

A dark house is an obvious sign that no one is home. Invest in timers for your indoor and outdoor lights and set them to mimic your regular daily activity. This can create an illusion of occupancy.

3. Secure Doors and Windows

Before you leave, ensure all doors and windows are locked securely. Don’t forget to check the garage door, as well as smaller windows in basements and attics. Consider investing in deadbolts for added security on external doors as our safety advice.

4. Hold Your Mail

A stuffed mailbox or a pile of newspapers at the doorstep signals that the house is unoccupied. Ask your postal service to hold your mail, or request a trusted neighbor to collect it for you.

5. Unplug Electronics

Unplug all nonessential electronics. Not only will this save energy, but it will also eliminate the risk of electrical fires.

6. Make Use of a Home Security System

If you have a home security system, ensure it is activated before you leave. This can deter burglars and can notify authorities in the event of a break-in. If you don’t have one, it might be a good time to consider investing in one.

7. Don’t Leave Spare Keys Outside

Burglars know all the potential hiding spots for spare keys. Instead of leaving a key under the mat or in a fake rock, give a spare key to a trusted neighbor or family member.

8. Keep Your Lawn Maintained

An overgrown lawn can hint that no one is home. If you’ll be away for an extended period, hire a lawn service or ask a neighbor to keep your yard maintained.

9. Secure Valuables

Don’t leave valuables in obvious places. Use a safe or a secure off-site location to store jewelry, important documents, and other valuable items while you’re away.

10. Ask a Friend or Neighbor to Check In

Having someone periodically check your home can dissuade potential burglars. This person can also help with tasks like watering plants, feeding pets, or taking out the trash.

Preparing your home for your absence can add a few more tasks to your pre-vacation checklist, but the peace of mind you’ll gain is well worth the effort. Implement these safety tips and you can enjoy your vacation knowing your home is secure. Safe travels!

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Economic Update | Week Ending May 9, 2025

Economic news this week – It was a light week for economic news. The Trump administration announced that a trade deal with the United Kingdom was made and that trade negotiations with China will be held this weekend. The Federal Reserve met and left interest rates unchanged. Next week we will get CPI and PPI numbers for April. So far, we have not seen an increase in inflation numbers due to tariffs; however, most tariffs had not begun in March so they would not impact March inflation data. Economists are waiting for those reports to see if inflation is going to begin to increase as tariffs kick in.

Stock markets were mainly flat this week – The Dow Jones Industrial Average closed the week at 41,249.38, down 0.2% from 41,317.43 last week. It is down 7.4% from 44,544.66 on December 31, 2024. The S&P 500 closed the week at 5,659.91, down 0.5% from 5,686.67 last week. The S&P is down 6.3% from 6,040.53 on December 31, 2024. The Nasdaq closed the week at 17,928.92, down 0.3% from 17,977.73 last week. It is down 8.7% from 19,627.44 on December 31, 2024.

U.S. Treasury bond yields increased for the third straight week on tariff fears – The 10-year treasury bond closed the week yielding 4.37%, upfrom 4.33% last week. The 30-year treasury bond yield ended the week at 4.83%, up from 4.79% 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 May 8, 2025, were as follows: The 30-year fixed mortgage rate was 6.76%, unchanged from 6.76% last week. The 15-year fixed rate was 5.89%, down from 5.92% 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.

April home sales numbers will be released by the California Association of Realtors at the end of next week, or the beginning of the following week for California sales and listings. The National Association of Realtors will release national figures the week after next. They post-sales data right around the 21st of each month. You can get April California sales figures for your city or zip code at RodeoRE.com. We posted them this morning.

Have a Great Weekend!

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Mortgage Rate Update | May 8, 2025

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 May 8, 2025, were as follows:

The 30-year fixed mortgage rate was 6.76%, unchanged from 6.76% last week. The 15-year fixed was 5.89%, down from 5.92% 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.

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From Netflix Updates to Apple AI and More! | Tech News

Stay connected with the top headlines in the world of tech. From Netflix updates to Apple AI and more, we have you covered on the major news of the week. Check out this week’s blog for what’s happening from across the web!

Google Launches Native Gemini App for iPadOS With Split‑View Multitasking and AI Collaboration Tools

Google has released a dedicated Gemini iPad app, letting iPadOS users run the AI assistant natively instead of in iPhone compatibility mode. The new app supports split‑view multitasking so you can place Gemini alongside other apps, plus powerful features like Gemini Live for natural voice chats in 45+ languages, Deep Research for instant report generation, Audio Overview to summarize audio files, Canvas for collaborative document and code editing, and on‑device image‑ and video‑generation tools. Gemini now offers a homescreen widget and integration with Google Photos, and its Audio Overview function—previously English‑only—expands to 45 languages worldwide. The app is available today in every country where Gemini operates, directly from the App Store, giving iPad users a full‑featured AI assistant optimized for Apple’s larger screen.

Reddit Old Layout to Remain Online While Platform Preps AI‑Powered Upgrades

Reddit CEO Steve Huffman reassured users that the beloved old Reddit interface will “stay online as long as people are using it.” This update came after Huffman joked about shutting it down in a post outlining “Reddit’s next chapter.” Forthcoming changes include simpler subreddit creation, an updated r/popular feed, and more. In addition, there will be a shift for moderators from policing to community cultivation through new AI‑driven tools. Huffman says Reddit will ask users for minimal third‑party identity checks to confirm they are human. Likewise, anonymity will remain in place. The company is also enhancing Reddit Chat with features like allowlists as it phases out private messages.

Apple Eyes AI‑Powered Search in Safari After Talks with OpenAI, Anthropic, and Perplexity

Apple is “actively looking at” adding AI search features to Safari within the next year, senior VP Eddy Cue revealed during Google’s antitrust trial. Cue said current generative‑AI tools “aren’t good enough” but confirmed discussions with Perplexity, OpenAI, and Anthropic, stressing the need to keep provider options open. The disclosure came as Cue defended Google’s reported $20 billion annual payment to stay Safari’s default search engine, a deal now under pressure after Safari searches fell for the first time in 22 years. Apple already links ChatGPT to Siri, while Google is close to bringing Gemini to iPhone, underscoring Apple’s push to enhance Safari and protect search‑related revenue.

Sony Forms Team LFG to Build a Multiplayer Action Game Set in a New Science‑Fantasy Universe

Sony Interactive Entertainment has created Team LFG, a new internal studio spun out of Bungie to develop a team‑based multiplayer action title. The studio blends veterans behind Destiny, Halo, League of Legends, Fortnite, Roblox, and Rec Room with fresh talent, aiming to deliver an engaging live‑service experience for PlayStation. Team LFG’s first game will feature a lighthearted science‑fantasy setting and draw mechanics from fighting games, platformers, MOBAs, life sims, and “frog‑type” games. The project is part of Sony’s scaled‑back but ongoing push into live‑service gaming, following its 2022 Bungie acquisition and the closure of Firewalk Studios after Concord’s troubled release. No launch window has been shared, yet Sony says the goal is to create a multiplayer world players can learn, play, and master for countless hours.

Amazon Unveils Vulcan, a Touch‑Sensitive Warehouse Robot That Picks 75% of Inventory

Amazon has introduced Vulcan, an AI‑powered warehouse robot that “feels” items as it stows and picks them, handling about three‑quarters of the products stored in fabric‑lined bins. Equipped with force sensors, a slim “ruler‑and‑hair‑straightener” arm to rearrange goods, and a suction arm guided by computer vision, Vulcan can determine the right amount of pressure to avoid damage and learns from every attempt. The robot is already processing orders in Spokane, WA, and Hamburg, Germany, saving workers from ladder climbs and deep bends while flagging items it can’t manage. Amazon plans to deploy Vulcan across the U.S. and Europe over the next few years, adding to its fleet of 750,000 robots that work alongside nearly one million human employees.

Netflix Tests TikTok‑Style Vertical Video Feed to Boost Mobile Content Discovery

Netflix will begin testing a TikTok‑like vertical video feed in its mobile app “in the coming weeks.” The Netflix update will let users swipe through short clips of shows and movies. With this, Netflix users will be able to tap to watch instantly, save to their list, or share with friends via on‑screen controls. Chief Product Officer of Netflix, Eunice Kim, says the feature builds on the success of vertical scrolling on social media. Of course, this Netflix update comes after earlier tests like Fast Laughs and Kids Clips experiments. The trial, which coincides with a new Netflix TV‑app redesign, aims to make it easier for subscribers to discover their next binge.

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Weekend Events | May 9 – May 11

Mother’s Day is almost here, and along with this weekend’s round-up of fun local events. From music to festivals and more, we have you covered for what’s happening around town. Check out the best activities in your neighborhood from May 9 through May 11. 

Los Angeles Weekend Events | May 9 – May 11 

Street Food Cinema

When: May 10 – September 6 

Where: Various Locations

What: Catch a movie under the stars with Street Food Cinema, a seasonal outdoor series featuring fan-favorite films, gourmet food trucks, and live music from local bands. Held at various dog-friendly venues across L.A. through October, each event offers a unique blend of dining and entertainment—just bring a blanket and check the rotating schedule.

First Fridays at the Natural History Museum

When: Until June 6 

Where: Natural History Museum | Los Angeles 

What: Experience a unique night at the Natural History Museum’s First Fridays, where music, science, and art collide. From March to June, enjoy KCRW-curated DJs, live performances, guided tours, and interactive exhibits after hours. This week’s “Healing Sounds” edition features performances by VÉRITÉ and Kelcey Ayer, plus immersive sound baths in the Sensory Lounge.

Jazz at LACMA

When: Until June 20 

Where: LACMA | Mid-City

What: Enjoy free live jazz under the stars with Jazz at LACMA, a beloved summer series held Friday evenings in the museum’s outdoor plaza. Bring a blanket for a picnic on the grass or arrive early for first-come seating to catch legendary performances behind LACMA’s iconic Urban Light.

Westside and Beach Communities Weekend Events | May 9 – May 11 

Venice Family Clinic Art Walk + Auction

When: May 9 – May 18 

Where: Venice

What: The Venice Art Walk returns May 9–18 for its 46th year, showcasing works from major artists like Ed Ruscha and Larry Bell to benefit the Venice Family Clinic. Held at 910 Abbot Kinney, the free event features an art auction and special exhibits highlighting post-wildfire resilience and Altadena’s Black artist community.

Paul McCartney: Rearview Mirror

 

When: Until June 21 

Where: Beverly Hills 

What: Step into the height of Beatlemania at Gagosian Beverly Hills, where 36 rediscovered photographs taken by Paul McCartney himself are on display this spring. Captured between December 1963 and February 1964, the exhibit features candid moments of the Beatles and their fans during one of the most iconic eras in music history.

Beyonce – Cowboy Carter Tour

When: Until May 9 

Where: SoFi Stadium | Inglewood

What: You knew Cowboy Carter belonged on stage the moment “Ya Ya” hit your speakers. Now, Beyoncé is bringing her genre-blending masterpiece to life with a highly anticipated tour—and L.A. gets a five-night spotlight at SoFi Stadium.

San Fernando Valley Weekend Events | May 9 – May 11 

Universal Fan Fest Nights

When: April 25 – May 18 

Where: Universal City

What: Grab your phaser, spellbook, or 20-sided die—Universal Studios Hollywood is throwing an after-hours fandom bash that trades screams for pure geek joy. On select nights through May 18, explore worlds from Star Trek to One Piece, catch Yoshi’s first park appearance, and watch the new “Hogwarts Always” castle show while snagging exclusive merch and bites. Costumes that follow the guidelines are not just welcome—they’re encouraged for this multiverse meet-up.

Oh Honey! I’m Comb! Sugar Cookie Decorating Class

When: May 9 

Where: Castle & Crown | 2012 West Burbank Boulevard, Burbank

What: Learn the art of decorated sugar cookies with Oh, Sugar’s beginner-friendly class, perfect for anyone curious about cookie design. This 2-hour, hands-on session covers the basics of dough, royal icing, piping techniques, and decorating strategy—all centered around a cute “Oh Honey! I’m Comb!” theme featuring bees and bears. All supplies are provided, so just bring a smile (and maybe an apron)!

Mother’s Day Flower Bouquets

When: May 11 

Where: Tansy | 2120 West Magnolia Boulevard, Burbank

What: Celebrate Mother’s Day with a joyful afternoon of blooms and creativity in the Tansy Garden. Build your own custom bouquet using fresh-cut flowers, ribbons, and tissue paper—perfect as a heartfelt gift or a keepsake to mark the occasion.

Conejo Valley Weekend Events | May 9 – May 11 

MOMentum Place

When: May 11 

Where: Topanga

What: Treat Mom to something truly magical this Mother’s Day at Theatricum Botanicum’s “Momentum Place,” an enchanting afternoon of aerialists, dancers, and musicians performed in a rustic outdoor amphitheater. This one-of-a-kind show is designed to celebrate mothers and can be paired with an optional pre-show brunch.

Moorpark Apricot Festival

When: May 10 

Where: Arroyo Vista Community Park | 4550 Tierra Rejada Road

What: Join the fun at the 2nd Annual Moorpark Apricot Festival and Art Fair this Saturday. This vibrant community celebration will feature a wide range of art and craft vendors, delicious bites, and more! Likewise, there will be food trucks and plenty of apricot-inspired treats to sample. Enjoy a full lineup of live music, cultural dance performances, and interactive entertainment throughout the day. Families can look forward to kid-friendly activities, animal shows, and hands-on crafts, making it the perfect spring outing for all ages.

Tiny Porch Concerts at Peter Strauss Ranch

When: May 11 

Where: Peter Strauss Ranch, 30000 Mulholland Hwy, Agoura Hills

What: Enjoy live music under the oaks at the Tiny Porch Concerts Summer Music Series, held monthly at the historic Peter Strauss Ranch Theatre in Agoura Hills. Kicking off on Mother’s Day, May 11, 2025, with Dustbowl Revival and special guests, the series features nationally touring artists and supports the preservation of the Santa Monica Mountains. Bring a blanket, relax, and enjoy an evening of unforgettable outdoor music.

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Our Favorite Mother’s Day Brunch Spots | L.A. Eats

Make this Mother’s Day unforgettable with a brunch that’s just as fabulous as Mom. From breezy garden teas to over-the-top buffets, here are the best places to celebrate Mother’s Day brunch in Los Angeles.

Pasjoli – Santa Monica

Celebrate in style at this upscale French bistro offering a family-style prix fixe brunch featuring deviled eggs, fried chicken with truffle gravy, and French toast. A kids’ menu is available for guests under 12.

High Tea at the JACCC – Little Tokyo

Enjoy afternoon tea in a serene Japanese garden with handcrafted Japanese and Western sweets by pastry chef Laura Ochikubo. The experience includes sandwiches, a glass of sparkling sake, and premium tea from Uji, Japan.

Camélia – Arts District

This French-Japanese bistro is offering a Mother’s Day-only afternoon tea with loose-leaf tea, scones, milkbread, handrolls, and a matcha crepe cake. The perfect blend of sweet and savory.

Marea – Beverly Hills

This chic Italian seafood destination is rolling out a luxe three-course brunch with dishes like lobster burrata and octopus fusilli. Caviar and oysters are available as add-ons.

Ardor – West Hollywood

Located in the West Hollywood EDITION, Ardor’s buffet brunch includes chef-attended stations, a dessert “garden,” and seasonal cocktails on a stunning patio surrounded by lush greenery.

Santa Monica Proper – Santa Monica

Palma, the hotel’s ultra-chic lobby restaurant, hosts a California-inspired afternoon tea with sparkling wine, scones, and unique local sweets, all served in a sun-drenched floral setting.

Redbird – Downtown LA

Housed in a historic cathedral, Redbird offers a prix fixe menu with standouts like strawberry salad, lobster ricotta cavatelli, and Basque baked eggs.

Inn of the Seventh Ray – Topanga

Dine creekside at this rustic canyon favorite offering a buffet brunch with vegetarian-friendly options and scenic outdoor seating from 8am–3:15pm.

Baltaire – Brentwood

Indulge in a buffet featuring carving stations, chilled seafood, roving gelato and Bloody Mary carts, and brunch staples like eggs Benedict and French toast.

The Maybourne – Beverly Hills

Enjoy a refined outdoor brunch with ricotta toast and Dungeness crab frittata. Bonus: Join a floral watercolor workshop and toast with a glass of bubbly.

The Culver Hotel – Culver City

Step into old Hollywood at this historic hotel. The prix fixe brunch features crab and avocado tartine, pineapple French toast, and a bottle of sparkling wine per duo.

The Peninsula – Beverly Hills

Choose from two experiences: a luxe four-course brunch at The Belvedere or a relaxed afternoon tea in The Living Room, complete with a live harpist and premium bubbly.

Wherever you choose to dine this Mother’s Day in Los Angeles, there are plenty of choices. From incredible food to beautiful settings, and unforgettable memories with Mom, make this Mother’s Day unforgettable.

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Catalina Island Getaway | Out & About

Looking for a perfect weekend getaway that’s both relaxing and adventurous? Catalina Island, just 22 miles off the Southern California coast, offers a unique blend of natural beauty, outdoor activities, and charming small-town allure. Whether you’re seeking thrilling adventures or peaceful relaxation, Catalina Island has something for everyone. Here’s a guide to making the most of your weekend on this picturesque island.

Avalon: The Heart of Catalina Island

Begin your Catalina adventure in Avalon, the island’s main town. This charming, walkable town is filled with quaint shops, delightful restaurants, and historic landmarks. Stroll down Crescent Avenue, known locally as Front Street, to browse unique boutiques and savor delicious local cuisine. Don’t miss a visit to the Catalina Island Museum to learn about the island’s rich history and culture.

One of Avalon’s most iconic landmarks is the Catalina Casino. Despite its name, this stunning Art Deco building isn’t a gambling establishment but a cultural hub. It houses a movie theater, a ballroom, and the Catalina Island Museum. Take a guided tour to discover the fascinating history and breathtaking views from the building’s upper levels.

Outdoor Adventures

Catalina Island is a paradise for outdoor enthusiasts. The crystal-clear waters surrounding the island are perfect for snorkeling and kayaking. Head to Lover’s Cove Marine Preserve, one of the top snorkeling spots in California, where you can swim among vibrant marine life. If kayaking is more your style, rent a kayak and paddle around the island’s scenic coves and beaches.

For those seeking an adrenaline rush, Catalina’s zip-line eco-tour is a must. This thrilling adventure takes you soaring over Descanso Canyon, offering spectacular views of the island and the ocean beyond. The guided tour includes five separate lines, each providing a unique perspective of Catalina’s natural beauty.

Hiking is another popular activity on Catalina Island. The island boasts a variety of trails ranging from easy walks to challenging hikes. The Garden to Sky Trail offers panoramic views of Avalon and the Pacific Ocean, making the trek well worth the effort. For a more leisurely hike, the Wrigley Memorial & Botanic Garden provides a beautiful setting with diverse plant species and serene paths.

Scenic Tours

To explore more of the island, consider taking a scenic boat tour or renting a golf cart. Boat tours offer a chance to see Catalina’s stunning coastline and perhaps even spot some wildlife, such as dolphins or sea lions. Various tours are available, including glass-bottom boat rides and semi-submersible submarine tours, which provide an up-close view of the underwater world.

Renting a golf cart is a fun and convenient way to explore Avalon at your own pace. Drive up to the scenic overlooks for breathtaking views, visit the Wrigley Memorial & Botanic Garden, or simply enjoy the charming streets of Avalon. It’s a great way to see the sights without the need for extensive walking.

Relaxation

After a day of adventure, unwind on one of Catalina’s beautiful beaches. Descanso Beach is a favorite spot, offering pristine sands, clear waters, and the chance to rent a cabana for the ultimate relaxation. Enjoy a cocktail from the beach club while soaking up the sun and listening to the gentle waves.

For a truly relaxing experience, indulge in one of the island’s spa services. Many spas in Avalon offer a range of treatments, from massages to facials, designed to rejuvenate and refresh. It’s the perfect way to end your Catalina Island getaway.

As You Set Sail On The Day

Catalina Island is an ideal destination for a weekend escape, offering a perfect mix of adventure, relaxation, and charm. From exploring the historic town of Avalon to embarking on thrilling outdoor activities and enjoying serene moments on the beach, Catalina provides a memorable experience for every traveler. Plan your trip to Catalina Island and discover the magic of this Southern California gem.

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Allergy Proofing For Spring | Home Tips

As trees bloom and the weather warms, spring can bring more than just a welcome change of scenery; it’s also the peak season for allergies. Dust, pollen, and other airborne irritants can turn your home from a safe haven into a sneeze-inducing nightmare. To help you keep the air in your home clean and your family healthy, here are effective strategies for allergy-proofing your home.

Upgrade Your Air Filters

One of the most effective ways to combat indoor allergens is by using high-quality air filters in your HVAC system. Filters rated with a High-Efficiency Particulate Air (HEPA) standard can trap particles as small as 0.3 microns, which includes most allergens. Make sure to replace these filters every three months, or more frequently if you have pets or live in a high-pollen area. Additionally, consider adding air purifiers with HEPA filters in frequently used rooms like bedrooms and living areas to further reduce allergen levels.

Implement Regular Deep Cleaning Practices

Regular cleaning is crucial in minimizing allergy irritants in your home, but spring calls for a deep clean. Focus on areas where allergens are likely to accumulate, such as:

  • Carpets and Rugs: Vacuum at least twice a week using a vacuum equipped with a HEPA filter. Consider professional cleaning annually or biannually, especially in high-traffic areas.
  • Upholstery and Curtains: Fabric can trap allergens, so wash or steam clean curtains and clean upholstery according to manufacturer recommendations.
  • Hard Surfaces: Dust can collect on surfaces like shelves, baseboards, and ceiling fans. Use a damp cloth to wipe these areas weekly to prevent dust from circulating back into the air.

Maintain a Dust-Free Environment

Reducing clutter can significantly decrease dust and allergens in your home:

  • Declutter: Keep surfaces clear of unnecessary items, and store books, magazines, and decorations in closed cabinets to reduce dust accumulation.
  • Bedding: Use an allergen-proof mattress and pillow covers, and wash bedding weekly in hot water to kill dust mites and remove allergens.
  • Pets: Keep pets groomed and bathed regularly to reduce the amount of pet dander in your home. Restricting pets from certain areas, especially bedrooms, can also help.

Control Humidity and Ventilation

Maintaining the right humidity level can discourage the growth of mold and dust mites, both of which are common allergens. Aim to keep your home’s humidity around 30-50%. Use dehumidifiers in damp areas and ensure that your home is well-ventilated to prevent mold growth in places like bathrooms and kitchens.

Consider Your Outdoor Connection

Limiting how much pollen you bring into your home can also reduce allergy symptoms:

  • Entryways: Keep windows and doors closed during high pollen times. Use doormats and a shoe station at entryways to reduce the amount of pollen entering from outside.
  • Clothing: Change clothing and take showers after being outdoors to wash away pollen.

By following these tips, you can significantly reduce the presence of allergens in your home, making it a more comfortable and healthier environment for everyone this spring. Regular maintenance and a few adjustments to your cleaning habits can go a long way in keeping your indoor air fresh and free from allergens. Stay healthy and breathe easier with a home that supports your well-being all season long!

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Economic Update | Week Ending May 3, 2025

Employees added 177,000 jobs in April despite tariff uncertainty – The Department of Labor and Statistics reported that 177,000 new jobs were added in April. That was slightly lower than a revised 185,000 new jobs added in March, but it far exceeded economists’ expectations of 130,000 new jobs. The unemployment rate remained unchanged at 4.2%. The labor participation rate increases slightly as more workers entered the workforce. Average hourly wages increased 3.8% year-over-year in April, unchanged from March’s annual increase.

Stock markets have rebounded – Stock markets have rebounded over the past two weeks with the S&P up about 8%. While stock markets were on track for their worst April since the depression following the announced tariffs, they have jumped higher over the past two weeks at the highest rate since late 2020 when they rebounded from the drop due to the pandemic. The Dow Jones Industrial Average closed the week at 41,317.43, up 3% from 40,113.50 last week. It is down 7.2% from 44,544.66 on December 31, 2024. The S&P 500 closed the week at 5,686.67, up 2.9% from 5,525.21 last week. The S&P is down 5.9% from 6,040.53 on December 31, 2024. The Nasdaq closed the week at 17,977.73, up 3.4% from 17,382.94 last week. It is down 8.4% from 19,627.44 on December 31, 2024.

U.S. Treasury bond yields jump – The 10-year treasury bond closed the week yielding 4.33%, up from 4.29% last week. The 30-year treasury bond yield ended the week at 4.79%, up from 4.74% 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 May 1, 2025, were as follows: The 30-year fixed mortgage rate was 6.76%, down from 6.81% last week. The 15-year fixed rate was 5.92%, nearly unchanged from 5.94% last week.

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

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Economic Update | Month Ending April 30, 2025

Tariffs – This was a wild month for both stock and bond markets. There were wild swings and at one point stock markets were headed for the worst April since the Great Depression before recovering to end the month slightly lower than they were at the start of the month. On April 2 President Trump in his “Liberation Day” speech announced tariffs on about 90 countries which panicked investors and markets worldwide. A full-scale sell-off began and stock markets plummeted, but recent developments have enabled the markets to recover much of those early losses. On April 9, following the initial sell-off, President Trump announced a 90-day pause on almost all countries except China. An all-out Trade war followed with China raising their tariffs to 125% on U.S. imports and Trump raising tariffs to 145% on all goods coming from China. Over the last two weeks, both sides have toned down the rhetoric as both countries have experienced a slowing in their economies. On April 12th President Trump exempted smartphones, computer monitors, chips, and various electronics from the 145% tariffs on Chinese goods. Administration officials have spoken about progress in trade negotiations. This has calmed investors from their initial panic. At month’s end, many administration officials including Treasury Secretary Scott Bessent said, “there was an opportunity for a big deal” on trade between the U.S. and China in his address to the Institute of International Finance. Last Friday, President Trump said that he had negotiated 200 trade deals that would be completed within three to four weeks. On April 28 auto tariffs were eased and a tax credit for auto manufacturers in the U.S. was proposed. Investors, world leaders, economists, and consumers are feeling better about tariffs than they were when the initial announcement was made on April 2nd as the administration has eased off on the size and scope of the tariffs.

Inflation and interest rates – Inflation subsided in March – The Consumer Price Index (CPI) rose 2.4% in March from one year earlier, down from a year-over-year increase of 2.8% in February. That matched the lowest annual inflation rate since last September, which was the lowest CPI rate since 2021. Core CPI, which excludes volatile food and energy prices, rose 2.8% year-over-year, down from a 3% annual rate in February. That marked the lowest yearly increase in Core CPI in four years. The Producer Price Index (PPI) rose 2.7% in March from one year earlier, down sharply from a 3.2% year-over-year increase in February. The PPI gauges wholesale inflation which is considered an indicator of future consumer inflation as wholesale costs are often passed on to consumers. The Personal Consumption Expenditures Price index, the Fed’s preferred measure of inflation rose 2.3% from one year ago. With inflation looking under control, it is unfortunate that mortgage interest rates and bond yields are so high. In September 2024, the CPI was at 2.4% and the unemployment rate was 4.2%. That marked the lowest inflation rate since early 2021 and the highest unemployment rate since 2021. The 10-year bond yield fell to 3.7% and the 30-year fixed mortgage rate dropped to just under 6%. After the election, inflation picked up and interest rates increased as investors and consumers felt that a change in administration would bring less regulation, and lower tax rates which in turn would boost the economy. Over the past couple of months, the economy has slowed. The latest GDP figure released on April 30th showed that the economy shrunk in the first quarter of 2025. It declined 0.3% from the previous quarter, its first quarterly decline since 2022. Normally lower inflation, slower growth, and higher unemployment would lead to lower interest rates. Today we are at the same unemployment rate, and CPI rate as we were last September, but instead of mortgage rates being just under 6% they are about 6.75%, and 10-year bond yields are about 4.2% rather than 3.7% they were when we had similar numbers last September. The only explanation is that investors fear that tariffs will reignite inflation, which would usually drop as the economy slows. Time will tell what will happen. There is a lot of uncertainty out there.

The graph below shows the CPI rate since 2021

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Stock markets – The Dow Jones Industrial Average ended the month at 40,669.36, down 3.2% from 42,001.76 on March 31, 2025. The Dow is down 4.4% year-to-date. The S&P 500 closed the month at 5,569.06, down 1.6% from 5,661.85 on March 31, 2025. It is down 5.3% year-to-date. The NASDAQ closed at 17,446.34, up 0.8% from 17,299.29 on March 31, 2025. It is down 9.7% year-to-date.

U.S. Treasury Bond Yields – The 10-year U.S. treasury bond yield closed the month at 4.17%, down from 4.23% on March 31, 2025. The 30-year treasury yield ended the month at 4.66%, up from 4.59% on March 31, 2025. We watch bond yields because mortgage rates often follow treasury 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 May 1st, were as follows: The 30-year fixed mortgage rate was 6.76%, up from 6.65% in March. The 15-year fixed was 5.92%, up from 5.89% in March.

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

Home sales data is released on the third week of the month for the previous month by the California Association of Realtors and the National Association of Realtors. These are March’s home sales figures.

U.S. existing-home sales March 2025 – The National Association of Realtorsreported that existing-home sales totaled 4.02 million units on a seasonally annualized rate in March, down 5.9% month-over-month from an annualized rate of 4.26 million units in February. Year-over-year sales slipped 2.4% from an annualized rate of 4.12 million units. The median price for a home sold in the U.S. in March was $403,700, up 2.7% from $392,900 one year ago. There was a 4-month supply of homes for sale in March, up from a 3.2-month supply one year ago. First-time buyers accounted for 32% of all sales. Investors and second-home purchases accounted for 15% of all sales. All cash purchases accounted for 26% of all sales. Foreclosures and short sales accounted for 3% of all sales.

California existing-home sales – The California Association of Realtors reported that existing-home sales totaled 277,030 on an annualized basis in March, up 4.9% year-over-year from a revised 264,200 homes sold on an annualized basis. The statewide median price paid for a home was $884,370 in March, up 3.5% from $854,370 one year ago. There was a 3.5-month supply of homes for sale in March, up from a 2.6-month supply of homes for sale last March.

The graph below lists home sales data by county in Southern California.

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