| Stock markets bounced back this week from last week’s drop following the weak job hiring report. There was not much economic news this week besides some strong earnings reports. Next week we will get the July Consumer Price Index report and the Producer Price Index report. Investors are eagerly awaiting those to see how tariffs are affecting inflation.
Stock Markets – The Dow Jones Industrial Average closed the week at 44,175.61, up 1.3% from 43,588.58 last week. Year-to-date, it is down 0.8% from 44,544.66 on December 31, 2024. The S&P 500 closed the week at 6,389.45, up 2.4% from 6,238.01 last week. Year-to-date the S&P is up 5.8% from 6,040.53 on December 31, 2024. The Nasdaq closed the week at 21,450.02, up 3.9% from 20,650.13 last week. Year-to-date it is up 9.3% from 19,627.44 on December 31, 2024. U.S. Treasury bond yields – The 10-year Treasury bond closed the week yielding 4.27%, up from 4.23% last week. The 30-year treasury bond yield ended the week at 4.85%, up from 4.81% 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 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.
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