Stock marketplaces rise all over again this week – Inventory marketplaces, following dropping about 5% in September, have rebounded in Oct. Financial knowledge details to the overall economy continuing its enlargement. Early reporting of company earnings has demonstrated potent corporate gains. Retail revenue, which seemed to stall in July August, had been up around 14% year-around-yr in September. 

  • The Dow Jones Industrial Average shut the 7 days at 35,294.76, up 1.6% from 34,746.25 past week. It is up 15.4% yr-to-date. 
  • The S&P 500 shut the week at 4,471.37, up 1.8% from 4,391.34 previous week. It is up 18.9% 12 months-to-date. 
  • The NASDAQ closed the 7 days at 14,897.34, up 2.2% from 14,579.54 past week. It is up 15.5% 12 months-to-day.

U.S. Treasury bond yields – The 10-calendar year treasury bond closed the 7 days yielding 1.59%, down from 1.61% final week. The 30-yr treasury bond generate finished the week at 2.05%, down from 2.16% final week. We enjoy bond yields mainly because home loan costs typically follow treasury bond yields. 

Home loan rates – The Oct 14, 2021, Freddie Mac Major House loan Survey documented property finance loan fees for the most preferred loan solutions as follows: 

  • The 30-calendar year mounted home finance loan rate was 3.05%, up from 2,99% past 7 days. 
  • The 15-calendar year mounted was 2.30%, up from 2.23% last week. 
  • The 5-calendar year ARM was 2.55% up slightly from 2.52% very last 7 days. 

2022 housing forecast – The California Association of Realtors released its 2022 housing current market forecast this 7 days. They anticipate the quantity of houses offered in 2022 to be drop by about 5.2% to 416,800 units. They have projected 439,800 revenue in 2021. 2022’s projection of 419,800 sales, when fewer than 2021, would be the second-greatest variety of revenue in the previous five decades. They expect the median price to rise 5.2% to $834,400 in 2022. While even now a wholesome improve it’s a ways off from the projected historic 20.3% maximize in the median price in 2021. They forecast interest premiums on 30-calendar year preset mortgages to be at or over 3.5%. Though about 1/2% higher than fees are now, which is a pretty low-curiosity fee and nonetheless in the vicinity of historic lows. 

September California and U.S. home sales figures will be produced by the California Affiliation of Realtors, and the Countrywide Affiliation of Realtors up coming 7 days. 

Have a great weekend!


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By Lela