- The Dow Jones Industrial Average closed the week at 31,494.32, up 0.1% from 31,458.40 last week. It is up 2.9% year-to-date.
- The S&P 500 closed the week at 3,906.71, down 0.7% from 3,934.83 last week. It is up 4.0% year-to-date.
- The NASDAQ closed the week at 13,874.36, down 1.6% from 14,094.47 last week. It is up 7.7% year-to-date.
U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 1.34%, up from 1.20% last week. The 30-year treasury bond yield ended the week at 2.14%, up from 2.01% last week. We watch bond yields because mortgage rates often follow treasury bond yields.
Mortgage rates - The February 18, 2021, Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows:
- The 30-year fixed mortgage rate was 2.81%, up from 2.73% last week.
- The 15-year fixed was 2.21% almost unchanged from 2.19% last week.
- The 5-year ARM was 2.77%, almost unchanged from 2.79% last week.
California existing home sales - The California Association of Realtors reported that existing, single-family home sales totaled 484,730 on an annualized basis in January. That represented a year-over-year increase of 22.5% from the 395,700 annualized rate of homes sold in January 2020. The median price paid for a home in California was $699,890, up 21.7% from the median price of $575,160 last January. Inventory levels were lower than one year ago. There was just a 1.5-month supply of homes for sale in January, down from a 3.4-month supply one year ago. Below please find a graph of regional statistics for Southern California.