The Personal Consumption Expenditures Price Index (PCE) for February was released on Friday. It is considered a preferred measurement of inflation by the Fed. it showed that the PCE price index grew at a 2.5% year-over-year rate, unchanged from January. The Core PCE, which excludes food and energy, rose 2.8% on an annual basis, up from a 2.7% annual increase in January, suggesting that inflation heated in February.
Stock markets – The Dow Jones Industrial Average closed the week at 41,583,90, down 1% from 41,985.35 last week. It is down 2.3% year-to-date. The S&P 500 closed the week at 5,580.94, down 1.5% from 5,667.56 last week. The S&P is down 5.1% year-to-date. The Nasdaq closed the week at 17,322.99, down 2.6% from 17,784.05 last week. It is down 10.3% 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 March 27, 2025, were as follows: The 30-year fixed mortgage rate was 6.65%, down slightly from 6.67% last week. The 15-year fixed was 5.89%, up from 5.83% last week. The graph below shows the trajectory of mortgage rates over the past year Have a Great Weekend! |