Graphic of gray house with red roof with a green stock market graph and gold arrow both going up

Stocks up for the week

High-profile mergers and a strong May retail sales report lifted stocks this week.

The Dow Jones Industrial Average closed the week at 26,089.61, up 0.4% from 25,983.94 last week. It’s up 11.8% year-to-date. 

The S&P 500 closed the week at 2,886.98, up 0.5% from 2,873.34 last week. It’s up 15.2% year-to-date. 

The NASDAQ closed the week at 7,796.66, up 0.7% from 7,742.10 last week. The NASDAQ is up 17.5% year-to-date. 

Treasury bond yields hold at 24-month low

The 10-year treasury bond closed the week yielding 2.09%, unchanged from 2.09% last week. The 30-year treasury bond yield ended the week at 2.59%, almost unchanged from 2.57% last week. We watch treasury bond yields because mortgage rates follow bond yields. 

Mortgage rates remain at lowest levels in 2 years

The June 13, 2019, Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 3.82%, unchanged from 3.82% last week. The 15-year fixed was 3.26%, almost unchanged from 3.28% last week. The 5-year ARM was 3.51%, also almost unchanged from 3.52% last week. 

Housing sales and price data for May will be released next week. We are expecting both prices and sales numbers figures to be higher. 

If you’d like more information on the San Fernando Valley or Los Angeles, or to have help looking for your next home, please feel free to reach out! I’m happy to help, no obligation.

Find Your New Home!
Contact Me Today!