Stock markets rise in holiday shortened week – News of the new Omicron COVID-19 pressure becoming the dominant strain in the U. S., however triggering much less severe disease than past variants, as properly as approval of a second anti-viral to handle COVID-19 calmed fears of yet another shut-down.All inventory indexes had dropped sharply soon after Omicron was very first declared just three weeks in the past recovered substantially of their loses final week.  

  • The Dow Jones Industrial Regular closed the week at 35,950.56, up 1.7% from 35,365.44 past week. It is up 17.5% year-to-day. 
  • The S&P 500 closed the week at 4,725.79, up 2.3% from 4,620.64 last 7 days. It is up 25.8% year-to-date. 
  • The NASDAQ shut the week at 15,653.37, up 3.2% from 15,169.96 very last 7 days. It is up 21.5% 12 months-to-day.

U.S. Treasury bond yields – The 10-calendar year treasury bond closed the week yielding 1.50%, up from 1.41% previous 7 days. The 30-calendar year treasury bond yield ended the week at 1.91%, up from 1.82% past 7 days. We enjoy bond yields for the reason that house loan fees normally comply with treasury bond yields. 

Mortgage loan rates – The December 23, 2021, Freddie Mac Key Home finance loan Survey documented home finance loan premiums for the most common personal loan products and solutions as follows: 

  • The 30-year mounted house loan level was 3.05%, down from 3.12% last 7 days. 
  • The 15-year mounted was 2.30% down from 2.34% very last week. 
  • The 5-12 months ARM was 2.37%, down from 2.45% previous 7 days. 

U.S. Existing-house revenue soar again in November – The National Affiliation of Realtors documented that present-home sales enhanced 1.9% in November from the selection of revenue in Oct. That marked a few consecutive months in thirty day period-above-thirty day period boosts in profits at a time of year when the number of product sales would commonly lessen. Yr-about-year gross sales ended up down 2% from just one year back. The median value paid for a property in the United States was $353,900, up 13.3% from $310,800 very last November. There has been 117 straight months of year-over-yr improves in residence charges, the longest-operating streak on report. The number of homes for sale was 13.9% below the number of houses for sale in November of 2020. There was a 2.1-thirty day period supply of properties obtainable for sale, down from a 2.5 thirty day period source final November. Very first-time consumers accounted for 26% of all sales. Investors and 2nd-house buyers accounted for 15% of the revenue. 24% of the sales were all-income purchases. Foreclosures and brief product sales accounted for fewer than 1% of the sales. Existing-house product sales include solitary-family, condominiums, townhouses, and co-ops.

 Happy Holidays and a Merry Xmas day to all!

By Lela