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!

Economic Update | Week Ending April 13, 2024

It was another tough week for stocks and interest rates. The March Consumer Price Index was released on Wednesday. It showed that consumer prices rose 3.5% year-over-year, up from 3.2% year-over-year in February, and 3.1% in January. Inflation was trending down at the end of 2023 but has begun to trend higher. That added fuel to last week’s jobs report which showed that the country added almost double the number of jobs that analysts expected in March and the unemployment rate dipped again, leading investors to feel that the economy was heating up. More people working leads to higher consumer confidence and more people spending, which fuels inflation. Mortgage interest rates and bond yields have risen steadily to their highest levels since November after beginning the year at their lowest levels. Oil prices rose as well over the past two weeks. Experts fear that a conflict between Israel and Iran could cause oil prices to rise another 20%.

Stock markets – The Dow Jones Industrial Average closed the week at 37,983.24, down 2.4% from 38,904.04 last week. It is up 0.8% year-to-date. The S&P 500 closed the week at 5,123.41, down 1.6% from 5,204.34 last week. The S&P is up 7.4% year-to-date. The Nasdaq closed the week at 16,175.09, down 0.4% from 16,248.52 last week. It is up 7.8% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.50%, up from 4.39% last week. The 30-year treasury bond yield ended the week at 4.61%, up from 4.54% 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 11, 2024, were as follows: The 30-year fixed mortgage rate was 6.88%, up from 6.82% last week. The 15-year fixed was 6.16%, up from 6.06% 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.

Home sales data for March will be released next week by the National Association of Realtors and the California Association of Realtors. We have that data tabulated now and you can view that data for your city or zip code at RodeoRe.com.

Have a great weekend!

From Apple AI to Meta HD and More! | Tech News

Connect with this week‘s top tech news stories! From Apple AI to Meta HD and more, we have you covered with the latest headlines. Check out what’s happening this week across the World Wide Web.

Apple Reportedly Preparing Significant AI-Enhanced M4 Mac Update

Apple is set to upgrade its Mac lineup with the new M4 processors, focusing on AI capabilities, as reported by Bloomberg’s Mark Gurman. The rollout of these AI-enhanced M4 Macs is expected to begin later this year and continue into early 2025. This update comes shortly after the November 2023 release of the first MacBook Pro with an M3 chip. The upcoming M4 chips, designed to boost AI processing, seem to be Apple’s answer to the emerging market of “AI PCs” and a recent dip in Mac sales. The M4 series will feature at least three variants: the entry-level Donan, the mid-tier Brava, and the high-performance Hidra, with distribution across different Mac models based on their performance tier. Apple’s focus on the M4’s AI capabilities is anticipated to be highlighted at its Worldwide Developers Conference on June 10th.

The Parent Company of The Weather Channel Introduces New AI Tool for Creating Hyperlocal Weather Videos

The Weather Company, known for operating The Weather Channel, is introducing ReelSphere, an AI-powered video creation tool aimed at broadcasters. This innovative tool is designed to automate the production of weather videos by adding captions, graphics, and hyperlocal weather information, complete with an AI voice that mimics local meteorologists. ReelSphere utilizes a large language model to generate location-specific graphics and integrates with the company’s weather information system, Max, to enhance the creation of maps and forecasts. While the tool automates much of the video creation process, manual edits are possible, ensuring accuracy and human oversight. According to Joe Fiveash, head of enterprise media and new verticals at The Weather Company, ReelSphere aims to streamline the production of weather videos for various platforms, addressing the growing demand for real-time weather updates. 

Apple to Allow iPhone Repairs Using Second-Hand Parts

Apple has announced a significant update that, starting this fall, will enable iPhone owners to repair their devices with used, genuine parts while maintaining full functionality for “select” models. Traditionally, Apple’s parts pairing process required matching device and new part serial numbers, leading to notifications or functionality issues with non-verified or aftermarket parts. This new policy will eliminate such notifications for used parts, as the calibration will now occur on the device itself post-installation. Furthermore, users and repair shops will no longer need to submit the device’s serial number when ordering most parts from the Self Service Repair Store, simplifying the repair process.

 

Meta Announces Improvements to ‘HD’ Photo Sharing on Facebook Messenger

Meta has refined the process of sharing HD (4K) photos via Facebook Messenger, a feature initially introduced in 2017. Previously, 4K photos were subjected to compression based on the sender’s and receiver’s network conditions. However, Meta’s update reduces compression, ensuring photos retain higher quality. In addition, it introduces an “HD” button for users to opt-in for 4K sharing, defaulting to 2K otherwise. A new album-sharing feature for group chats allows for collective photo and video sharing, enhancing group experiences like trips. This feature includes options to create, name, and edit albums, with editing capabilities open to all group members. Alongside, Meta is introducing QR codes and links for smoother connection setups in Messenger, promising a more integrated social experience. These updates are rolling out in the coming weeks, aiming to enrich user interaction and content sharing on the platform.

Google Expands AI Photo Editing Tools to a Wider Range of Phones

Google is democratizing its AI photo editing capabilities. The update extends access to features that were once exclusive to Pixel owners and Google One subscribers. From May 15th, Google Photos users across Android and iOS devices meeting specific requirements can utilize the Magic Editor tool. Pixel device owners and Google One subscribers enjoy unlimited usage. Additionally, functionalities like Photo Unblur and Magic Eraser are now freely available to all Photos users. However, the latest generative AI will remain exclusive to the Pixel 8 series for the time being. This expansion offers a broader audience the chance to experiment with advanced photo editing tools, making high-quality editing more accessible.

Mortgage Rate Update | April 11, 2024

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 11, 2024, were as follows: The 30-year fixed mortgage rate was 6.88%, up from 6.82% last week. The 15-year fixed was 6.16%, up from 6.06% last week.

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

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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 | April 12 – April 14

Spring into neighborhood fun with this week’s round-up of top events! Check out what’s happening in your neck of the woods, from Paleyfest to marathons and more. We have you covered on what’s happening from April 12 through April 14.

Los Angeles Weekend Events | April 12 – April 14 

PaleyFest

When: April 12 – April 20, 2024

Where: Hollywood

What: Join fellow TV enthusiasts at PaleyFest, the annual festival spanning a week, featuring appearances by the cast and creators of “Curb Your Enthusiasm,” “Loki,” “The Morning Show,” “Young Sheldon,” “Avatar: The Last Airbender,” “Late Night with Seth Meyers,” “The Late Show with Stephen Colbert,” and celebrating the 25th anniversary of “Family Guy.”

First Fridays at the Natural History Museum

When: Until June 7

Where: Natural History Museum | USC/Exposition Park

What: Escape the usual First Friday crowd for a unique experience at the Natural History Museum, where dinosaurs meet DJs. From February through June, on the first Friday of each month, enjoy a KCRW-sponsored night of music, museum tours, and scientist-led talks, suitable for all ages. Each event features a fresh lineup of musical acts and DJs, making for a memorable evening at the museum.

ED RUSCHA / NOW THEN

When: April 7 – October 6, 2024 

Where: Miracle Mile

What: This comprehensive retrospective of Ed Ruscha showcases his detailed photographs of Los Angeles streets alongside a recreated Chocolate Room. The unique installation is composed entirely of layered chocolate sheets.

 

Westside and Beach Communities Weekend Events | April 12 – April 14 

626 Night Market Mini

When: April 13 – April 14

Where: Santa Monica

What: Traditionally hosted in Arcadia, the Asian street food fair is moving to Santa Monica for a smaller version, this time in collaboration with the new HBO series “The Sympathizer.” Reflecting the show and novel’s Vietnamese backdrop, attendees will experience a selection of Vietnamese cuisine, art, and entertainment.

Los Angeles Theatre Week

When: Until Apr 14, 2024

Where: Various locations

What: Take advantage of discounted theater tickets, starting at just $20, to a variety of shows over this two-week celebration. Featured productions include “Fat Ham,” “Funny Girl,” “One of the Good Ones,” among others.

The Mean Girls Experience

When: Until April 21

Where: Santa Monica

What: Get ready for echoes of “you can’t sit with us!” at this “Mean Girls”-themed event in Santa Monica. With every ticket, enjoy a meal and side dish (options include “Stab” Caesar salad and cheese fries) served in a cafeteria-style environment, alongside entry to the Cool Mom Bar and numerous photo opportunities (featuring iconic setups like Regina’s bedroom mirror, the Burn Book, and the talent show). Head over to 2020 Wilshire Boulevard in Santa Monica for this unique experience.

San Fernando Valley Weekend Events | April 12 – April 14 

Embroidery Social

When: April 13

Where: Brand Library Lawn

What: A playful morning awaits on the second Saturday of each month at the Brand Library, where both beginners and experienced embroiderers are invited to a gathering organized by @folk.lounge. Attendees are encouraged to bring their embroidery projects or begin anew, sharing tips, tricks, and stories while working on their creations alongside fellow stitching enthusiasts.

Paint N Sip | Brunch, Cocktails, & Live Music

When: April 13 – May 4 

Where: 555 Universal Hollywood Dr

What: Spring into creativity with the Paint N Sip outdoor event at FIVE on the Hill! Participants can look forward to a day filled with painting, sipping cocktails, indulging in a delicious brunch, and enjoying live music. This event offers a perfect opportunity to relax and unleash creativity on a Saturday or Sunday morning.

Yoga Sculpt & Flow

When: April 13 

Where: Liberate Yourself | 13323 Ventura Boulevard

What: Vinyasa flow classes offer a smooth sequence of postures with moments for extended holds, enhancing strength, flexibility, and balance while fostering presence in motion and stillness. Open to all skill levels, attendees will feel rejuvenated, empowered, and connected post-session.

Conejo Valley Weekend Events | April 12 – April 14 

39th Annual Nature Made Great Race of Agoura Hills Half Marathon, 5K, 10K, 1 Mile

When: April 13, 7am – 11am

Where: 5550 Medea Valley Dr, Agoura Hills, CA 91301

What: Since its debut in 1986, the Nature Made Great Race has been a beloved event in the greater Los Angeles area, and it’s making its comeback on Saturday, April 13, 2024, in Agoura Hills. This thrilling, family-oriented event includes a variety of races: the Cheseboro Half Marathon, Old Agoura 10K, Nature Made 5K, and a 1 Mile Fun Run, catering to all levels of runners.

Calabasas Earth Day Festival

When: April 13, 2pm – 5pm

Where: Las Virgenes Road & Agoura Road, Calabasas, CA 91302

What: The Calabasas Earth Day Celebration/Green Expo is scheduled for Sunday, April 13, 2024, from 2:00 pm to 5:00 pm at the Las Virgenes Creek site, south of Agoura Rd. in Calabasas. Featuring over 50 exhibitors from Los Angeles and Ventura Counties, the event aims to promote cost-saving environmental efficiency. This free festival offers engaging activities for all ages, including fun educational experiences for children about environmental conservation.

Mizel Wine and Painting with Bobbie Rich

When: April 14, 3pm – 5pm

Where: 1050 W Potrero Rd, Thousand Oaks, CA 91361, USA (map)

What: Immerse yourself in Mizel Estate Wines’ gorgeous vineyard.  Be inspired by Bobbie’s gentle guidance and Mizel First Impression Bordeaux Blend! Create your own radiant Georgia O’Keeffe inspired sunflower with acrylic paint on canvas. Call 805-795-2506 or email info@mizelestate.com to reserve your spot.

Your Neighborhood Market Guide | LA Eats

Tired of the same old grocery store aesthetic? Boutique markets are on the rise, bringing with them a fresh take on how locals can choose to shop. Whether you are in search of a unique bite or simply wish to pick up a few produce essentials, these mini-marts have just enough of what you might need. Read on below for our round-up of neighborhood markets to add to your grocery list.

Wine + Eggs

Location: 3129 Glendale Blvd., Atwater Village

If you are in need of provisions, look no further than Wine + Eggs in Atwater Village. The quaint marketplace has an array of wine selections to choose from plus grocery essentials. Wine + Eggs currently carries over 30 local brands including frozen pizza from La Morra Pizzeria, miso from downtown L.A.’s Omiso, and El Machete salsa from Boyle Heights. 

Sesame L.A.

Location: 936 N. Hill Street Los Angeles

At this vibrant neighborhood market, you’ll find produce, Asian pantry items, and dishes prepared by owner Linda Sivrican’s extended community. This gem offers a stunning variety of Asian pantry essentials, including Sriracha, TPF sauces, and Yuzu Mayo, as well as mouth-watering Vietnamese grab-and-go options and homemade pan-Asian dishes. Don’t miss their vibrant flower selection and irresistible đồ ăn nhậu (Vietnamese “drinking food”)—a tantalizing assortment of sweet and savory treats like tamarind candies and crab chips.

Open Market

Location: 3339 Wilshire Blvd, Los Angeles

Feast your eyes on Open Market, a corner store and café in Koreatown that truly captures the essence of Los Angeles. This community-focused gem is dedicated to supporting local businesses and showcasing the city’s vibrant flavors. With sandwiches named after iconic L.A. streets and coffee roasted in Granada Hills, Open Market is a love letter to LA. Co-founded by Brian Lee, Yoonna McGill, Andrew Marco, and Ralph Hsiao, Open Market is a must for locals.

Sara’s Market

Location: Various Locations

Whether you are in need of bread and milk or craving tacos from the Goat Mafia, Sara’s Market serves up something for everyone in East LA. The former liquor store turned storefront teems with life, and as a community staple for over 60 years. The family behind the shop continues to host pop-ups throughout the year for purveyors looking to pick up a bite with their market haul. 

Little Nelly

Location: Magnolia Park | 3815 W. Magnolia Boulevard

Foodies, rejoice! Little Nelly, a charming new cookbook, dry goods, and takeaway eatery has recently opened its doors in Burbank. This delightful spot offers an eclectic selection of sandwiches, hot sauces, and must-read titles from acclaimed chefs and authors. Join the buzz and explore this gem! The venture marks the catering outfit’s exciting debut into public-facing business ventures. 

 

Our Favorite Local Staycation Spots | Out & About

Refreshing without the lost time and hassle of traveling long distances, there are many benefits of a local staycation. Likewise, with so many amazing things to see and do in SoCal, local staycations are fun for everyone! People travel from all around the globe to experience Southern California … and, it’s waiting right on your doorstep! Here are our top picks for local staycations around the neighborhood.

The Beverly Hills Hotel, Beverly Hills

Located on the famous Sunset Boulevard, the iconic Beverly Hills Hotel has been a local staycation spot and Hollywood go-to for over 100 years. Guests can revel in the star-studded treatment and finest luxuries right from the moment they step onto the bold red carpet. Combining old-time elegance and modern comfort, opulent rooms feature the finest furnishings and linens, while appealing on-site amenities include the rejuvenating spa, the shimmering pool, and the legendary Polo Lounge. Occupying the perfect spot between the city and the sea, there’s a wealth of exciting opportunities at your fingertips.

Nobu Ryokan Malibu, Malibu

Be transported overseas without leaving SoCal when you check into the unique sanctuary that is Nobu Ryokan Malibu. Perfect for a soothing local staycation with your significant other, the accommodation emulates traditional Japanese lodgings. Offering a relaxed retreat enjoy this staycation all while overlooking the sparkling Pacific Ocean. The property features striking minimalistic features. Likewise, this includes a relaxing garden, gorgeous artworks, blissful teak soaking tubs, and cozy fireplaces. Just steps from the sandy beach, guests of Nobu Ryokan Malibu can use the facilities of the exclusive Malibu Racquet Club. In addition, you can take advantage of priority bookings at Cure Spa. Just a stone’s throw away, Nobu Malibu restaurant continues the Asian theme, with delectable Japanese fusion cuisine.

Hotel Figueroa, Los Angeles

Situated right in the vibrant heart of DTLA, Hotel Figueroa provides the perfect retreat from the city’s hustle and bustle. Enjoy surrounding restaurants, museums, shops, art galleries, and performance venues before heading back to the gorgeous Spanish-colonial charms and top-class amenities. Handsome guest rooms blend classic comfort and contemporary edges, and visitors can cool down with a dip in the inviting outdoor pool and enjoy tasty meals at Café Fig, Sparrow, and La Casita, while Bar Magnolia is perfect for a nightcap.

The Portofino Hotel and Marina, Redondo Beach

Occupying a glorious position on a pretty peninsula, The Portofino Hotel and Marina is an ideal local staycation destination. Watch boats bobbing at the marina, soak up ocean vistas, visit nearby sandy beaches, and relax as a cooling sea breeze gently caresses your skin. Newly renovated rooms feature large windows and color palettes to match those of the sea, and hotel amenities include waterfront restaurants, a pool, and a fitness center. If you can’t totally disconnect, there’s also a 24-hour business center. Another plus point: the property is pet friendly.

Mt Ada, Catalina Island

Breakaway from the mainland (a little!) to feel like you’re truly on an exotic vacation and book a stay at Mt Ada on Catalina Island. Just a short ferry ride away, the island offers plenty of opportunities for relaxation and exploration on a local staycation. Once the island retreat of William Wrigley Jr., guests of Mt Ada can enjoy discounted deals on tours and activities. You’ll also have your own golf cart at your disposal throughout your stay. With just six stunning rooms, the grand mansion offers a truly exclusive vibe. Step back in time to a charming era, soak up incredible views and enjoy delectable cuisine. The cozy den, once Mr. Wrigley’s billiards room and the spectacular terrace are top places to unwind.

April is Earthquake Preparedness Month | Home Tips

Earthquake Preparedness Month

With April being California’s Earthquake Preparedness Month, it’s the perfect time to make sure we’re ready to face any tremors that come our way. By taking the right precautions, we can minimize the risk to ourselves, our families, and our communities.

In this blog post, we’ll provide essential tips for earthquake preparedness, including securing your home, preparing an emergency kit, and creating a family plan. Let’s shake up our preparedness routines and ensure we’re ready to ride out the next big one.

Secure Your Home

Earthquake Preparedness Month

The first step in earthquake preparedness is ensuring your home is as safe as possible. Start by:

  • Anchoring heavy furniture to walls, such as bookcases, dressers, and appliances.
  • Installing latches on cabinets to prevent items from falling out during an earthquake.
  • Securing televisions, computers, and other electronics with straps or brackets.
  • Storing heavy and breakable items on lower shelves to reduce the risk of injury.
  • Retrofitting your home if it was built before the 1980s to better withstand shaking.
Prepare an Emergency Kit

Earthquake Preparedness Month

In the event of an earthquake, having an emergency kit readily available can make a significant difference. Your kit should include:

  • At least three days’ worth of non-perishable food and water for each person in your household.
  • A first-aid kit with essential medications and prescription information.
  • A battery-powered or hand-crank radio for receiving updates and instructions from authorities.
  • A flashlight with extra batteries or a solar-powered alternative.
  • A whistle to signal for help.
  • A multi-tool or Swiss Army knife for various tasks.
  • A supply of cash in small bills and coins.
  • Copies of important documents, such as identification, insurance policies, and medical records.
Create a Family Plan

Earthquake Preparedness Month

It’s crucial to have a plan in place before disaster strikes. Develop a family earthquake plan by:

  • Designating a safe meeting spot outside your home, such as a nearby park or landmark.
  • Identifying potential escape routes and safe places within your home.
  • Establishing an out-of-state contact person who can relay information between family members if local communication is disrupted.
  • Teaching children how to call 911 and when it’s appropriate to do so.
  • Practicing “Drop, Cover, and Hold On” drills to ensure everyone knows what to do during an earthquake.
Stay Informed

Educate yourself about the earthquake hazards in your area, including the location of active fault lines and the history of seismic activity. Stay informed about the latest preparedness tips and guidelines by:

  • Following credible sources such as the California Earthquake Authority (CEA), the United States Geological Survey (USGS), and your local government agencies.
  • Participating in community events and workshops focused on earthquake preparedness.
  • Sharing information and resources with neighbors, friends, and family.

Living in California means embracing the ever-present risk of earthquakes. But by taking the time to prepare for these natural events, we can mitigate their impact on our lives. This Earthquake Preparedness Month, take the opportunity to secure your home, create an emergency kit, develop a family plan, and stay informed. Together, we can ensure that when the earth shakes, we’re ready to roll with it.

 

Economic Update | Week Ending April 6, 2024

This week investors were very unsure of what to expect from the economy due to several factors. One was inflationary pressure due to the strength of the economy. At the end of 2023, it appeared that the economy was finally slowing, inflation was dropping, and the labor market was beginning to cool. Investors were expecting the Fed to shift from a restrictive monetary policy to a more neutral one and begin to cut rates in March. In the first three months of the year, the economy has picked up steam. Inflation reports show that the inflation rate which had steadily worked its way down from its peak 9.1% year-over-year increase in June 2022 to about a 3% year-over-year increase by the end of 2023, has now stalled remaining mostly unchanged through the first quarter. Hiring has picked up and job gains have far outpaced expectations. Experts have given up hopes of four rate cuts this year and now expect one to three without the first cut until June or July. That has increased bond yields and mortgage rates to their highest levels since last fall. Oil prices have also risen to their highest levels in over six months due to geopolitical tensions in the Middle East.

Employers added another 303,000 new jobs in March – The Department of Labor and Statistics reported that 303,000 new jobs were added in March. That blew away the 200,000 new jobs that analysts expected, and it marked the fourth straight month with job gains above 200,000 and the 39th consecutive month of job growth. The unemployment rate dropped to 3.8% in March, down from 3.9% in February, marking 26 straight months of unemployment below 4%. That has not happened since the 1960s. Investors are puzzled as to how the economy and labor market have remained so strong after 11 rate hikes and the highest Fed interest rates in 24 years. Average hourly wages increased 4.1% year-over-year in March, down from 4.3% in February, which was the only part of the report that does not put pressure on inflation. Bond yields and mortgage rates ended the week at their highest levels since last October.

Stock markets – The Dow Jones Industrial Average closed the week at 38,904.04, down 2.3% from 39,807.37 last week. It is up 3.2% year-to-date. The S&P 500 closed the week at 5,204.34, down 1% from 5,254.46 last week. The S&P is up 9.1% year-to-date. The Nasdaq closed the week at 16,248.52, down 0.8% from 16,379.46 last week. It is up 8.2% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.39%, up from 4.22% last week. The 30-year treasury bond yield ended the week at 4.54%, up from 4.39% 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 4, 2024, were as follows: The 30-year fixed mortgage rate was 6.82%, up from 6.79% last week. The 15-year fixed was 6.06%, down from 6.11% 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.

Have a great weekend!