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January 23, 2024

Eco-Friendly Initiatives for Upscale Homes | Home Tips

In today’s world, luxury living is not just about opulence and comfort; it’s also about being environmentally conscious. Sustainable living practices are increasingly becoming a priority for luxury homeowners. Here are some ways to incorporate eco-friendly initiatives into your upscale home without compromising on elegance.

Energy Efficiency: A Smart Start

Energy efficiency is at the forefront of eco-friendly living. Start with upgrading to energy-efficient appliances, which not only consume less power but also add a modern look to your home. Smart thermostats can help regulate energy usage, adjusting the temperature based on your habits and preferences. LED lighting is another simple switch that makes a significant difference in reducing energy consumption.

Water Conservation Techniques

Water is a precious resource, and luxury homes can lead the way in conservation. Installing low-flow fixtures in bathrooms and kitchens can significantly reduce water usage without impacting functionality. For outdoor spaces, consider a rainwater harvesting system to irrigate your gardens, reducing your reliance on municipal water supplies.

Sustainable Building Materials

When renovating or building, choose sustainable materials. Bamboo flooring is not only eco-friendly but also durable and stylish. For countertops, recycled glass or reclaimed wood can add a unique aesthetic to your kitchen or bathroom. Using non-toxic paints and finishes reduces the emission of volatile organic compounds (VOCs), ensuring better air quality inside your home.

Solar Energy: Harnessing the Sun’s Power

Solar panels are a hallmark of eco-friendly homes. They reduce dependence on fossil fuels and can significantly lower electricity bills. Modern solar panel designs are sleek and can be integrated seamlessly into your home’s design, maintaining its luxurious appearance.

Landscaping with a Purpose

Eco-friendly landscaping is not only about creating a beautiful outdoor space but also about contributing to the environment. Use native plants that require less water and maintenance. Incorporating a vegetable garden can provide fresh, organic produce for your kitchen while also reducing your carbon footprint.

Smart Home Automation for Efficiency

Home automation systems can play a significant role in managing your home’s energy usage. Automated blinds can regulate the amount of sunlight entering your home, reducing heating and cooling needs. Smart irrigation systems ensure efficient water usage in your garden. Even something as simple as a smart power strip can help reduce standby power consumption.

Eco-Friendly Interior Design

Sustainable luxury extends to your home’s interior design. Choose furniture made from sustainable or recycled materials. Organic cotton, wool, and bamboo textiles for your bedding, towels, and curtains not only feel luxurious but are also eco-friendly choices.

Educating and Engaging

Lastly, a vital part of sustainable living is education and engagement. Stay informed about new eco-friendly technologies and practices. Share your experiences and learnings with your community to inspire others to adopt sustainable practices in their homes.

In conclusion, integrating eco-friendly initiatives into your luxury home is a responsible and forward-thinking approach to living. By focusing on energy efficiency, sustainable materials, and smart technology, you can create an environment that is both luxuriously comfortable and environmentally conscious. As luxury homeowners, you have the unique opportunity to set an example in sustainable living without compromising on style and comfort.

January 19, 2024January 19, 2024

Economic Update | Week Ending January 20, 2024

Stock markets – This week marked another week of strong economic data. December retail sales, a gauge of consumer confidence was much stronger than analysts had expected. Strong consumer spending puts pressure on inflation. New weekly jobless claims also dropped to the lowest level in almost two years. It had seemed that after eleven rate increases in just over a year, boasting the prime lending rate, an index that many business loans are tied to, from 3.5% to 8.5% was beginning to slow hiring and spending. These reports, like others this month, indicate that the economy may be picking up steam. Good news for the economy is not always good news for interest rates. The Fed needs to see signs that the economy is slowing to drop rates from their current 24-year high levels. These reports indicate that rate drops will not be as soon as many investors had hoped for at the end of 2023. The Dow Jones Industrial Average closed the week at 37,863.80, up 0.7% from 37,592.98 last week. It is up 0.5% year-to-date. The S&P 500 closed the week at 4,839.81, up 1.2% from 4,783.83 last week. The S&P is up 1.5% year-to-date. The Nasdaq closed the week at 15,310.97, up 2.6% from 14,927.76 last week. It is up 2% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.15%, up from 3.96% last week. The 30-year treasury bond yield ended the week at 4.36%, up from 4.20% 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 January 18, 2024, were as follows: The 30-year fixed mortgage rate was 6.60%, down slightly from 6.66% last week. The 15-year fixed was 5.76%, down slightly from 5.87% last week. Mortgage rates were higher at the end of the week. Next week’s rates will be higher.

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

California Association of Realtors 2023 existing-home sales report – The California Association of Realtors reported that existing-home sales totaled 224,000 units on a seasonally adjusted annualized basis in December, down 7.1% from a revised 241,700 homes sold on an annualized basis last December. California recorded 257,560 existing-homes sold in 2023, down from 342,530 homes sold in 2022. That marked the biggest one-year drop in annual sales since 2007. Prior to 2022 home sales have rarely dropped below 400,000 in decades. Much of the decline was due to a loss of move-up buyers. Normally about 60% of all sales are people who sell a home and use their proceeds to purchase another. When someone who wants to move has a mortgage rate of 3% it’s difficult to sell it and purchase another with a mortgage at a 7% rate. This is because when they own a $2 million dollar home with a $1 million mortgage at 3%, their payment with taxes and insurance is about $4,500 a month. If they put their $1 million in proceeds down on a new $4 million dollar home and obtained a $3 million loan at 6.5% (down from almost 8% two months ago) their payment with tax and insurance would be around $24,000 a month. That’s a big jump that has caused many people to stay in their current homes that would normally move to a new home. When people put off their move it reduces the number of homes for sale. There was a 2.5-month supply of homes on the market in December, down from a 3-month supply of homes for sale in November, and a 2.6-month supply one year ago. That marked the tightest inventory level in 7 months. Fewer homes for sale, especially in a first-time buyer price range push prices up for those homes. This is exactly what is happening now. At the same time, without the move-up buyers, homes in the upper ranges of many areas are sitting. Those are being reduced and sold for less than they did in 2022. Because there are many more sales in the lower price range than the upper price ranges the median price, the point at which 1/2 the homes sell for mom and 1/2 sell for less, is moving up. The statewide median price paid for a home in December was $819,740, up 6.4% from a revised median price of $770,490 a year ago. In the field we are not seeing home prices increase in the upper price ranges the way we are seeing the first-time purchaser home prices jump.

The graph below shows home sales figures by county in Southern California.

Have a great weekend!

January 18, 2024

Mortgage Rate Update | January 18, 2024

Mortgage rates – Every Thursday Freddie Mac publishes a 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 January 18, 2024, were as follows: The 30-year fixed mortgage rate was 6.60%, down slightly from 6.66% last week. The 15-year fixed was 5.76%, down slightly from 5.87% last week. Mortgage rates were higher at the end of the week. Next week’s rates will be higher.

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

January 18, 2024January 18, 2024

From Samsung’s Smart Ring to Amazon’s AI and More! | Tech News

Stay up to date with the latest in tech news! Check out this week’s blog of major headlines from Samsung’s Smart Ring to Amazon’s AI and more, we have you covered. Read on below for what’s happening from across the World Wide Web.

Amazon’s Latest AI Chatbot Offers Responses, Humor, and Style Tips Inspired by Jeff Bezos

Amazon is testing a new AI feature in its iOS and Android mobile apps, allowing customers to ask specific product-related questions. This AI tool can provide detailed information about products, such as dimensions, battery life, and even creative content like Christmas carols about snow boots. While primarily designed for practical queries, the tool can also handle whimsical requests, creating jokes, bedtime stories, and flirty descriptions about products like flash card readers and hard drives. However, it doesn’t engage in personal flirtation. Currently available to a limited number of users, the feature is part of Amazon’s broader implementation of AI in its retail services. This includes using AI to summarize product reviews, detecting fake reviews, and suggesting clothing sizes. Amazon’s enterprise cloud division, AWS, has also been developing generative AI, recently launching the Titan Image Generator for text-to-image prompts and providing access to other major AI models for enterprise customers.

Notion Launches a New Calendar App to Streamline Meeting Organization

Notion is responding to user demand by introducing Notion Calendar, a standalone app that seamlessly integrates with Notion’s databases and notes. This development is part of Notion’s strategy to become an all-in-one solution for business needs. The app, essentially a revamped version of the Cron calendar app acquired by Notion in 2022, offers features like Calendly-style booking, a command bar for scheduling, and the ability to prevent double-booking across personal and work calendars. Its key new feature is the integration with Notion, allowing users to link documents and databases within calendar events, streamlining the management of agendas and notes. The company is continuously evolving, adding features like AI, messaging, automated workflows, and app integrations, aiming to replace traditional business tools like email, presentation software, and possibly even challenging Excel.

Samsung Develops a Smart Ring Technology

Samsung recently announced its venture into smart ring technology with the Galaxy Ring. Likewise, Samsung describes the product as a “powerful and accessible” health and wellness device. The Galaxy Ring was only briefly showcased in a video, with limited details provided. Samsung has not disclosed the release date or pricing for the device. The move into smart ring technology aligns with current trends. Samsung’s interest in this area was hinted at last year when they filed a patent. Of course, it is anticipated that the Galaxy Ring will also incorporate AI-powered tools. More information about the Galaxy Ring is eagerly awaited.

Google Maps Introduces In-Tunnel Navigation Feature

Google Maps is enhancing its navigation capabilities in tunnels with a new feature that utilizes Bluetooth beacons. This improvement addresses the common issue of GPS systems losing direction inside tunnels, where signals are often weak or unavailable. The feature, first noticed by SmartDroid, is currently available on the Android version of Google Maps. It operates by using Bluetooth beacons installed in tunnels to transmit location data to the user’s phone. This data allows Google Maps to offer real-time traffic information as it would with a standard GPS connection. However, the effectiveness of this feature depends on the presence of Bluetooth beacons in the tunnels. Waze has already implemented this technology and has partnerships in several global cities where beacons are installed. It’s unclear if Google Maps will use the same beacons. The rollout of this feature began in October 2023 and appears to be expanding.

Apple Updates App Store Policies to Allow US Developers to Direct Users to External Payment Options

Apple has revised its App Store policies, now allowing developers to link to external payment platforms, as reported by 9to5Mac. Despite this change, Apple will still collect a commission from developers using outside payment methods. The new rules require developers to apply for an “entitlement” to use alternative payment methods. Additionally, developers must still offer Apple’s in-app purchase system alongside external payment options.

January 18, 2024January 18, 2024

Weekend Events | January 19 – January 21

Explore all the fun happening in your neighborhood this January 19 through January 21. From pop-ups to paint and sips and more, there are plenty of things to do around town. Check out this week’s round-up of weekend events!

LOS ANGELES WEEKEND EVENTS | JANUARY 19 – JANUARY 21

Smorgasburg LA

When: Until December 2024

Where: DTLA

What: Every Sunday, ROW DTLA hosts a vibrant food market featuring a variety of food vendors, ranging from popular pop-ups to emerging culinary talents. Keep an eye out for this year’s new additions, such as Basket Taco Co, Battambong Barbecue, and Taste of the Pacific.

Luna Luna: Forgotten Fantasy

When: Through Spring 2024

Where: Boyle Heights

What: In the summer of 1987, Germany hosted a unique carnival where traditional rides were embellished with art from Salvador Dalí, Jean-Michel Basquiat, Keith Haring, David Hockney, Sonia Delaunay, and many others. After that summer, this distinctive carnival disappeared, tucked away in storage for years. Recently, however, Luna Luna has been resurrected in Los Angeles. Thanks to the efforts of several art world collaborators and Drake, the carnival has been meticulously restored and reassembled. It is now open for visitors in a Boyle Heights soundstage until the spring of 2024.

Celebrating Frank Gehry

When: January 18 – January 21

Where: DTLA

What: The Los Angeles Philharmonic concludes its homage to the architect of the Walt Disney Concert Hall with a performance of Wagner’s opera “Das Rheingold,” conducted by Gustavo Dudamel and featuring scenic design by Gehry, scheduled from January 18 to 21.

WESTSIDE & BEACH COMMUNITIES WEEKEND EVENTS | JANUARY 19 – JANUARY 21

This Light of Ours: Activist Photographers from the Civil Rights Movement

When: Until February 25

Where: Westside

What: Discover over 150 impactful black-and-white photographs captured by nine photographers at Skirball’s civil rights movement exhibition. This collection showcases a blend of daily life scenes, protest moments, and influential figures like Dr. Martin Luther King, Jr. The exhibition highlights not only the subjects in front of the camera but also the activist photographers behind the lens.

The Mean Girls Experience L.A.

When: January 12 – April 21, 2024

Where: Santa Monica

What: Get ready to immerse yourself in a Mean Girls-inspired adventure in Santa Monica where you might just hear some “you can’t sit with us!” exclamations. With each ticket, you’ll enjoy a meal consisting of an entree and side (such as the “Stab” Caesar salad and cheese fries) in a cafeteria-style atmosphere. Additionally, you’ll have access to the Cool Mom Bar and numerous photo opportunities, including Regina’s bedroom mirror, the Burn Book, and the talent show stage. Located at 2020 Wilshire Boulevard in Santa Monica, it’s the ultimate Mean Girls experience!

The Dr. Seuss Experience

When: Until January 31

Where: Santa Monica

What: Immerse yourself in the whimsical universe of Wockets and Truffula Trees at The Dr. Seuss Experience, an interactive adventure inspired by the beloved books of Dr. Seuss. This enchanting experience brings to life the vivid characters and landscapes from classics like The Cat in the Hat and The Lorax. Guests can explore a series of rooms, each offering unique interactions with characters and perfect photo opportunities. At the heart of this pop-up lies a mirror maze, inspired by The Sneetches, providing a captivating challenge. Catch this touring show at Santa Monica Place starting in November 2023 for a magical journey through the world of Dr. Seuss.

SAN FERNANDO VALLEY WEEKEND EVENTS | JANUARY 19 – JANUARY 21

Beginning Field Sketching with Diego Blanco

When: January 20

Where: Theodore Payne Foundation | 10459 Tuxford St Sun Valley, CA 91352

What: The special class at the Theodore Payne Foundation Gardens invites individuals to learn about the parts of a plant and how to effectively sketch their forms. Through guided exercises, participants will develop a deeper relationship with nature through art, enhancing their observation skills and botanical knowledge. This class is designed to accommodate all skill levels.

Shaping Gravity: Abstract Art Beyond the Picture Plane

When: Until March 10

Where: Glendale

What: Experience the vibrant interpretations of abstraction by seven artists at this complimentary exhibit at the Forest Lawn Museum. Explore diverse artworks ranging from sculptures and paintings to augmented reality pieces and interactive video projections. Featured artists include Jen Stark, Molly Larkey, Shane Guffogg, Michelle Jane Lee, Christine Nguyen, Rema Ghuloum, and Sara Ippolito.

VALLEY RELICS MUSEUM EXPERIENCE

When: Every Saturday and Sunday

Where: 16781 Stagg Street Hangar C3 & C4 | Van Nuys

What: Visit the Valley’s beloved Museum of Pop Culture this weekend! The Valley Relics Museum invites you to join them for a day full of nostalgia and fun. Their one-of-a-kind museum.

CONEJO VALLEY WEEKEND EVENTS | JANUARY 19 – JANUARY 21

Underwater Parks Day Festival at Sea Center in Santa Barbara

When: January 20, 10am – 3pm

Where: 211 Stearns Wharf, Santa Barbara, CA 93101

What: The Santa Barbara Museum of Natural History Sea Center, is offering complimentary admission to its Underwater Parks Day Festival. This festival is a celebration of Marine Protected Areas (MPAs), often referred to as “underwater parks”.

Young Concert Artists

When: January 21, 2024

Where: Raitt Hall | Pepperdine University

What: The Young Concert Artists (YCA) featured in Malibu include Chinese violinist Lun Li, Danish cellist Jonathan Swensen, Spanish/Dutch pianist Albert Cano Smit, American tenor Daniel McGrew, and American bass-baritone Joseph Parrish.

Paint & Sip

When: January 21, 2024

Where: Rosenthal Wine Bar & Patio | 18741 East Pacific Coast Highway, Malibu

What: Enjoy an afternoon of wine, painting, and fun! Spend the day at Rosenthal Wine Bar for a delightful Paint and Sip.

January 17, 2024January 16, 2024

Top Spots for Dry January Cocktails | LA Eats

Dry January has arrived and a favor over non-alcoholic cocktails is on the rise. Whether you’re taking a break from alcohol or simply looking for a refreshing alternative, LA offers a plethora of delightful mocktail options. Here are 12 fantastic places to discover mouthwatering mocktails in the City of Angels.

Bar Louie:

Bar Louie, with three SoCal locations, serves up a delicious Pomegranate Paloma and Pineapple Upside Down Margarita. Of course, both are alcohol-free and full of flavor.

Fairmont Miramar Hotel & Bungalows:

Located at 101 Wilshire Blvd, Santa Monica, CA 90401, the Fairmont boasts a newly designed lounge with five delectable spirit-free cocktails, including the Afternoon Refresher and a unique Aperol spritz variation.

Gin Rummy:

Gin Rummy, found at 822 Washington Boulevard, CA 90292, offers a non-alcoholic menu to complement its game-centric atmosphere. Try the Passionfruit Picante Spritz, Virgin Mint Margarita, or the Not Gin and Tonic made with Ritual Zero Proof gin.

PleasureMed:

In West Hollywood, PleasureMed’s Irie restaurant and Hind cannabis consumption lounge serve the Yellow Brick Road and Souls Embrace mocktails, both brimming with flavorful ingredients.

Ubuntu:

At 7469 Melrose Avenue, Los Angeles, California 90046, Ubuntu offers the Sobolo Mule, a booze-free delight featuring hibiscus, grains of paradise, pomegranate, and more.

FYC Bar + Kitchen:

FYC Bar + Kitchen, located at 322 N Pass Ave, Burbank, CA 91505, presents a range of alcohol-free cocktails, including the Amara Spritzer and Peach Tree.

Providence:

Providence’s N/A pairing menu, available at 5955 Melrose Ave, Los Angeles, CA 90038, offers exquisite non-alcoholic options like a housemade soda and a de-alcoholized Riesling.

The Ruby Fruit:

Silver Lake’s popular wine bar, The Ruby Fruit, offers a delightful Proxies Blanc Slate “wine” and the refreshing Botanical Tonic mocktail.

De Buena Planta:

Located at 2815 W Sunset Blvd, Los Angeles, CA 90026, De Buena Planta is a must for dry January cocktails. Enjoy spirit-free spirits like the Mediterranean Tonic and Garden Paloma.

The Roof at Edition:

The Roof at Edition offers more than just breathtaking skyline views. The LA hot spot also features a non-alcoholic section on its menu, including the Second to None mocktail.

Kato Restaurant:

At 777 S Alameda St, Los Angeles, CA 90021, Kato Restaurant offers a non-alcoholic pairing to accompany chef Jon Yao’s tasting menu. In addition, enjoy your options with five N/A a la carte options.

Shirley’s Temple:

Shirley’s Temple in Long Beach operates as a daytime cafe and transforms into a speakeasy after dark. Their inventive mocktail menu includes the Saffroni, a twist on the Negroni.

Cheers…

Dry January has never looked so appealing with these 12 fantastic spots in Los Angeles to enjoy non-alcoholic mocktails. Cheers to a healthier start to the year!

January 16, 2024January 16, 2024

Luxurious SoCal Spa Destinations | Out & About

As the winter months grace Southern California with their mild charm, it’s the perfect time for luxury homeowners to indulge in a retreat of serenity and wellness. Southern California‘s exclusive wellness retreats are sanctuaries of relaxation, offering world-class spa treatments, tranquil environments, and stunning natural beauty. From the pristine shores of the Pacific to the tranquil desert landscapes, these retreats are designed to rejuvenate your mind, body, and soul. Join us on a journey to discover the top winter wellness retreats in this picturesque region.

The Spa at Terranea – Rancho Palos Verdes

Perched on the cliffs of the Palos Verdes Peninsula, The Spa at Terranea is a Mediterranean-inspired oasis. This luxurious spa spans over 50,000 square feet, offering breathtaking views of the Pacific Ocean. It features a comprehensive menu of spa treatments, including the Ocean Prelude, which utilizes seaweed and sea salt to rejuvenate the skin. The spa also boasts outdoor relaxation areas, fire pits, and oceanfront cabanas, providing an ideal setting for complete relaxation.

Two Bunch Palms – Desert Hot Springs

Nestled in the heart of the Coachella Valley, Two Bunch Palms is an intimate spa resort known for its natural hot springs. This eco-friendly retreat offers a range of holistic treatments, such as the Desert Clay Wrap, using indigenous resources for a truly unique experience. The resort’s tranquil ambiance is complemented by lush gardens and serene ponds, making it an ideal getaway for those seeking peace and privacy.

The Ritz-Carlton Spa – Los Angeles

Located in the vibrant heart of downtown Los Angeles, The Ritz-Carlton Spa offers an urban sanctuary. Enjoy treatments like the Hollywood Glamour Facial, which promises to leave you red-carpet-ready. They also offer a couple’s suite with a private relaxation area, providing a perfect escape for those looking to unwind in the city.

Exclusive Treatments and Amenities

These luxury spas not only offer signature treatments but also provide holistic wellness programs and state-of-the-art amenities. The Spa at Terranea offers wellness consultations and fitness classes, catering to those who seek a balanced approach to wellness. Two Bunch Palms focuses on sustainability and holistic health, offering wellness workshops and meditation classes in its serene desert environment. The Ritz-Carlton Spa, meanwhile, boasts a rooftop pool and a co-ed Sanctuary, providing guests with a luxurious urban retreat experience.

Seasonal Specials and Packages

To enhance the winter experience, these spas offer seasonal specials and packages. The Spa at Terranea often includes winter-themed treatments and holiday packages, perfect for a festive rejuvenation. Two Bunch Palms offers seasonal retreats focusing on specific wellness goals, such as detoxification or relaxation. The Ritz-Carlton Spa provides holiday-inspired treatments and gift packages. Likewise, this makes it an ideal destination for those looking to indulge during the winter season.

January 16, 2024January 16, 2024

Gourmet Kitchen Makeover | Home Tips

January is the perfect time to revitalize the heart of your home – the kitchen. For luxury homeowners, a kitchen is not just a place for meal preparation. Make the most of your space for culinary creativity with our home tips.

High-End Appliances for Culinary Excellence

A luxury kitchen makeover begins with state-of-the-art appliances. Consider a professional-grade range that offers both style and functionality. Features like induction cooktops, built-in sous vide, or even teppanyaki grills can elevate your cooking experience. Don’t forget a smart refrigerator that not only stores food but also helps you manage your groceries and meal planning.

Materials That Exude Elegance

The choice of materials can significantly impact the look and feel of your kitchen. Marble countertops remain a timeless choice, offering beauty and durability. For flooring, consider hardwood or high-quality tiles that complement your cabinetry.

Innovative Storage Solutions

A luxury kitchen must be as functional as it is beautiful. Custom storage solutions like pull-out drawers for spices, built-in organizers for cutlery, and hidden cabinets can keep your kitchen clutter-free and efficient. Modern solutions like corner drawer units and under-counter appliances can maximize space and maintain clean lines.

Lighting That Creates an Atmosphere

Lighting plays a crucial role in setting the mood in your kitchen. A combination of ambient, task, and accent lighting can transform the functionality and ambiance of the space. Consider a statement chandelier or designer pendant lights over your island or dining area. Under-cabinet lighting can enhance the functionality and aesthetics of your workspace.

A Focus on Detailing

Details matter in a luxury kitchen. High-quality hardware, designer faucets, and bespoke backsplashes can all contribute to the overall luxury feel. Don’t overlook elements like cabinet handles, drawer pulls, and even the sink – these small details can make a big difference.

Technology for Convenience and Luxury

Incorporate technology to add convenience and modernity to your kitchen. Voice-controlled devices can assist in hands-free cooking, while smart ovens can be preheated remotely. Integrated coffee machines and wine coolers add an extra touch of luxury and functionality.

An Entertainer’s Dream

Lastly, consider your kitchen’s role in entertainment. An open-plan layout with a spacious island can serve as a gathering spot for guests. Integrated sound systems and wine bars can make your kitchen the perfect place for hosting dinner parties and gatherings.

January 13, 2024January 13, 2024

Economic Update | Week Ending January 13, 2024

Stock markets – With all eyes on the Fed and what they will do with interest rate policy, investors waited for two key inflation reports that were released this week. On Thursday, the December Consumer Price Index (CPI) was released. It shows that inflation heated up in December. Consumer prices increased 3.4% year-over-year, up from a 3.1% year-over-year increase in November. Core CPI, which excludes food and energy costs rose 3.9% from one year ago. On Friday, the Producer Price Index (PPI) was released. This is an index that measures wholesale prices. Wholesale prices unexpectedly fell in December, up just 1% from one year ago. Consumer prices typically trail behind and mirror changes in producer prices. When producers secure goods at lower costs, the benefits are often passed on to consumers. Consumer prices generally lag behind and follow producer prices. If producers can purchase goods at a lower price that gets passed on to consumers. Bond yields and mortgage rates, which have increased in the first ten days of the year following a strong jobs report and the uptick in CPI inflation dropped on Friday following the PPI report on hopes that inflation will keep moderating. The Dow Jones Industrial Average closed the week at 37,592.98, up 0.3% from 37,466.11 last week. It is down 0.2% year-to-date. The S&P 500 closed the week at 4,783.83, up 1.8% from 4,697.24 last week. The S&P is up 0.3% year-to-date. The Nasdaq closed the week at 14,927.76, up 2.8% from 14,524.07 last week. It is down 0.6% year-to-date.

Bond yields and mortgage rates, which have increased in the first ten days of the year following a strong jobs report and the uptick in CPI inflation, dropped on Friday following the PPI report on hopes that inflation will keep moderating. The Dow Jones Industrial Average closed the week at 37,592.98, up 0.3% from 37,466.11 last week. It is down 0.2% year-to-date. The S&P 500 closed the week at 4,783.83, up 1.8% from 4,697.24 last week. The S&P is up 0.3% year-to-date. The Nasdaq closed the week at 14,927.76, up 2.8% from 14,524.07 last week. It is down 0.6% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 3.96%, down from 4.05% last week. The 30-year treasury bond yield ended the week at 4.20%, unchanged from 4.21% 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 January 11, 2024, were as follows: The 30-year fixed mortgage rate was 6.66%, up slightly from 6.62% last week. The 15-year fixed was 5.87%, down slightly from 5.89% last week.

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

December home sales data for California and the U.S. will be released next week by the California Association of Realtors and the National Association of Realtors. You can get December data now for your city or zip code on our website, RodeoRe.com.

Have a great weekend!

January 12, 2024

Mortgage Rate Update | January 12, 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 January 11, 2024, were as follows: The 30-year fixed mortgage rate was 6.66%, up slightly from 6.62% last week. The 15-year fixed was 5.87%, down slightly from 5.89% last week.

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