Economic Update For Week Ending March 12, 2022.

Inventory markets shut decreased for a fifth straight week – The Dow fell for its fifth straight week as buyers try out to decide just how lousy the economic impact the war in Ukraine will have on American corporations. Persistent inflation which was going on properly ahead of the Russian invasion has been exuberated by soaring gasoline expenses as the globe has partially minimize off Russian oil. The February CPI report was released on Thursday. It showed that client prices had risen 7.9% year-over-12 months in February. That marks the highest inflation fee due to the fact 1982. American providers have also joined the boycott and stopped promoting products in Russia. That will effect their profits. It was a tricky week for traders.  The Dow Jones Industrial Average closed the 7 days at 32,944.19, down 2.% from 33,614.17 previous 7 days. It is down 9.4% 12 months-to-day. The S&P 500 shut the 7 days at 4,204.31, down 2.8% from 4,326.87 very last 7 days. The S&P is down 11.8% year-to-date. The NASDAQ shut the 7 days at 12,843.81, down 3.5% from 13,314.44 past week. It is down 17.9%, calendar year-to-day. 

U.S. Treasury bond yields – The 10-calendar year treasury bond closed the week yielding 2.00%, up from 1.74% last 7 days. The 30-calendar year treasury bond generate finished the 7 days at 2.36%, up from 2.16% previous 7 days. We enjoy bond yields since home finance loan premiums often adhere to treasury bond yields. 

Mortgage loan rates – March 10, 2022, Freddie Mac Key House loan Survey claimed that property finance loan rates for the most well-liked personal loan merchandise were being as follows: The 30-yr set mortgage loan amount was 3.85%, up from 3.76% very last week. The 15-year preset was 3.01%, up from 3.09% very last week. The 5-calendar year ARM was 2.97%, up from 2.91% very last 7 days. Following the release of the February CPI report that showed inflation experienced risen 7.9% year-around-year on Thursday, mortgage premiums have risen sharply. The 30-calendar year fixed-fee is effectively above 4% these days.

Property revenue figures for February will be released future week by the California Association of Realtors. You can get a specific market place report for your city or zip code now from my web page. It has all February property profits quantities. My internet site tackle is in the signature portion of this e mail.

It is unpleasant earning a assertion that it was a difficult 7 days for buyers in mild of what is likely on in Ukraine. It was a tragic week for Ukrainians with unimaginable loss of life and destruction. Rodeo Realty prays for an stop of the war.

Tonight we set our clocks ahead a person hour. I am seeking ahead to the more time days. Have a good weekend!