Stock markets -The Dow Jones Industrial Average closed the week at 42,206.82, down 1.3% from 42,762.87 last week. Year-to-date, it is down 5.3% from $ 44,544.66 as of December 31, 2024. The S&P 500 closed the week at 5,967.84, down 0.2% from 5,976.97 last week. Year-to-date the S&P is down 1.2% from 6,040.53 on December 31, 2024. The Nasdaq closed the week at 19,447.41, up 0.2% from 19,406.83 last week. Year-to-date it is down 0.9% from 19,627.44 on December 31, 2024.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.38%, down from 4.41% last week. The 30-year treasury bond yield ended the week at 4.89%, almost unchanged from 4.90% 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 June 19, 2025, were as follows: The 30-year fixed mortgage rate was 6.81%, down slightly from 6.84% last week. The 15-year fixed was 5.96%, nearly unchanged from 5.97% last week.

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

Home sales data is released on the third week of the month for the previous month by the California Association of Realtors and the National Association of Realtors. The California Association of Realtors released their figures on Wednesday the National Association of Realtors will release May’s figures next week. These are California’s May home sales figures.

California existing-home sales – The California Association of Realtors reported that existing-home sales totaled 254,100 on an annualized basis in May, down 5.1% from 267,710 in April. Year-over-year sales were down 4% from a revised 264,840 annualized homes one year ago. The statewide median price paid for a home was $900,170 in May, down 1.1% from $910,160 in April. Year-over-year, the statewide median price was down 0.9% from $908,000 in May 2024. There was a 3.8-month supply of homes for sale in May, up from a 3.5-month supply of homes for sale in April, and up from a 2.6-month supply of homes for sale last May.

The graph below lists home sales data by county in Southern California.

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The graph below shows CPI rates year over year.

Stock markets – Stock markets were up for the week on Thursday before Israel attacked Iran and Iran retaliated. Oil prices also spiked to their highest levels in 5 months. Major indexes dropped 1.1%-1.8% on Friday to finish the week lower. The Dow Jones Industrial Average dropped almost 800 points on Friday to close the week at 42,197.79, down 1.3% from 42,762.87 last week. Year-to-date, it is down 6.3% from 44,544.66 on December 31, 2024. The S&P 500 closed the week at 5,976.97, up 0.4% from 6,000.36 last week. Year-to-date the S&P is down 1.1% from 6,040.53 on December 31, 2024. The Nasdaq closed the week at 19,406.83, down 0.6% from 19,529.95 last week. Year-to-date it is down 1.1% from 19,627.44 on December 31, 2024.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.41%, down from 4.51% last week. The 30-year treasury bond yield ended the week at 4.90%, down from 4.97% 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 June 5, 2025, were as follows: The 30-year fixed mortgage rate was 6.84%, nearly unchanged from 6.85% last week. The 15-year fixed was 5.97%, nearly unchangedfrom 5.99% last week. The graph below shows the trajectory of mortgage rates over the past year.

The graph below shows mortgage rates over the past year.

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Stock markets finished higher again this week – Stock markets were in correction territory in April. Major indexes were down 12% – 17% on April 11 from December 31, but now they have rebounded to where they were at the start of the year. The Dow Jones Industrial Average closed the week at 42,762.87, up 1.2% from 42,270.07 last week. It is down 4% from 44,544.66 on December 31, 2024. The S&P 500 closed the week at 6,000.36, up 1.5% from 5,911.51 last week. The S&P is down 0.7% from 6,040.53 on December 31, 2024. The Nasdaq closed the week at 19,529.95, up 2.2%from 19,113.77 last week. It is down 0.5% from 19,627.44 on December 31, 2024.

U.S. Treasury bond yields – Bond yields jumped on Friday after investors learned that 139,000 new jobs were added in May and wages increased. The 10-year treasury bond closed the week yielding 4.51%, up from 4.41% last week. The 30-year treasury bond yield ended the week at 4.97%, up from 4.92% 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 June 5, 2025, were as follows: The 30-year fixed mortgage rate was 6.85%, down from 6.89% last week. The 15-year fixed was 5.99%, down from 6.03% last week. The graph below shows the trajectory of mortgage rates over the past year.

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

Have a Great Weekend!

The Dow Jones Industrial Average closed the week at 42,270.07, up 1.6% from 41,603.07 last week. It is down 5.1% from 44,544.66 on December 31, 2024. The S&P 500 closed the week at 5,911.51, up 1.8% from 5,802.82 last week. The S&P is down 2.1% from 6,040.53 on December 31, 2024. The Nasdaq closed the week at 19,113.77, up 2% from 18,737.21 last week. It is down 2.6% from 19,627.44 on December 31, 2024.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.41%, down from 4.51% last week. The 30-year treasury bond yield ended the week at 4.92%, down from 5.04% 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 May 29, 2025, were as follows: The 30-year fixed mortgage rate was 6.89%, up from 6.86% last week. The 15-year fixed was 6.03%, slightly up from 6.01% last week.

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

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The graph below shows the CPI rate since 2021

U.S. Treasury Bond Yields – Treasury bond yields jumped in May as investors worried that tariffs may ignite inflation. The 10-year U.S. treasury bond yield closed the month at 4.41%, up from 4.17% on April 30, 2025. The 30-year treasury yield ended the month at 4.92% , up from 4.66% on April 30, 2025. We watch bond yields because mortgage rates often follow treasury bond yields.

Mortgage rates rose with treasury bonds in May – 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 May 29, 2025, were as follows: The 30-year fixed mortgage rate was 6.89%, up from 6.81% last month. The 15-year fixed was 6.03%, up from 5.94% last month.

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

Stock markets rebounded in May. They have now made up almost all their losses from when the tariffs were announced at the beginning of April – The Dow Jones Industrial Average ended the year at 42,270.07, up 3.9% from 40,669.36 on April 30, 2025. The Dow is down 5.1% year-to-date. The S&P 500 closed the month at 5,911.69, up 6.1% from 5,569.06 on April 30, 2025. It is down 2.1% year-to-date. The NASDAQ closed at 19,113.77, up 9.6% from 17,446.34 on April 30, 2025. It is down 2.6% year-to-date.

Home sales data is released on the third week of the month for the previous month by the California Association of Realtors and the National Association of Realtors. These are April’s home sales figures.

U.S. existing-home sales April 2025 – The National Association of Realtors reported that existing-home sales totaled 4.00-million units on a seasonal annualized rate in April, down 2% from an annualized rate of 4.08 million units last April. The median price paid for a home sold in the U.S. in March was $414,000, up 1.8% from $406,600 one year ago. There was a 4.4-month supply of homes for sale in April, up from a 3.5-month supply in April 2024. First-time buyers accounted for 34% of all sales. Investors and second-home purchases accounted for 15% of all sales. All cash purchases accounted for 25% of all sales. Foreclosures and short sales accounted for 2% of all sales.

California existing-home sales – The California Association of Realtors reported that existing-home sales totaled 267,710 on an annualized basis in April, down 3.4% from 277.0300 in March. Year-over-year sales were down 0.2% from a revised 268,170 annualized homes one year ago. The statewide median price paid for a home was $910,160 in April, up 0.2% from $904,010 last April. There was a 3.5-month supply of homes for sale in April, up from a 2.6-month supply of homes for sale last April.

The graph below lists home sales data by county in Southern California.