| Stocks Markets – The Dow Jones Industrial Average closed the week at 39,142.23, down 2.7% from 40,212.71 last week. It is down 12.1% from 44,544.66 on December 31, 2024. The S&P 500 closed the week at 5,282.70, down 1.3% from 5,353.26 last week. The S&P is down 12.5% from 6,040.53 on December 31, 2024. The Nasdaq closed the week at 16,286.45, down 2.6% from 16,724.46 last week. It is down 17% from 19,627.44 on December 31, 2024.
U.S. Treasury bond yields jumped – The 10-year treasury bond closed the week yielding 4.34%, down from 4.48% last week. The 30-year treasury bond yield ended the week at 4.80%, down from 4.85% 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 April 17, 2025, were as follows: The 30-year fixed mortgage rate was 6.83%, upfrom 6.62% last week. The 15-year fixed rate was 6.03%, up from 5.82% last week. The graph below shows the trajectory of mortgage rates over the past year.
Home sales figures for March were released by the California Association of Real Estate this week. The National Association of Realtors will release March figures next week. 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% from $854,370 one year ago. There was a 3.5-month supply of homes for sale in January, 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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