Inventory markets unchanged this week – Traders purchased shares based mostly on constructive information displaying that a number of COVID-19 vaccines are near being authorized for distribution. In addition they offered shares based mostly on concern that surging COVID-19 instances had been inflicting additional restrictions that may curtail enterprise development all through the nation. Unemployment claims unexpectedly rose this week which was additional proof that the re-opening of the economic system has begun to point out some indicators of reversing. 

  • The Dow Jones Industrial Common closed the week at 29,293.48, down 0.7% from 29,471.81 final week. It’s up 2.5% year-to-date. 
  • The S&P 500 closed the week at 3,557.54, down 0.8% from 3,585.15 final week. It is a document shut. It’s up 10.1% year-to-date. 
  • The NASDAQ closed the week at 11,854.97, down 0.2% from 11,829.28 final week. It’s up 32.1% 12 months-to-date. 

 U.S. Treasury bond yields – The ten-year treasury bond closed the week yielding 0.83%, down from 0.89% final week. The 30-year treasury bond yield ended the week at 1.53%, up from 1.65% final week. We watch bond yields as a result of mortgage charges typically comply with treasury bond yields. 

 Mortgage charges – The November 19, 2020, Freddie Mac Major Mortgage Survey reported mortgage charges for the preferred mortgage merchandise as follows: 

  • The 30-year fastened mortgage price common was 2.72%, down from 2.84% final week. 
  • The 15-year fastened was 2.28%, down from 2.34% final week. 
  • The 5-year ARM was 2.85%, down from 3.11% final week.

The California Affiliation of Realtors reported that present, single-family residence gross sales totaled 484,510 on an annualized foundation in October. That represented a 12 months over 12 months enhance of 19.5% from the variety of houses offered in October 2019. The median value paid for a house in California was $711,300, up 17.5% from the median value final October. Stock ranges had been decrease than one 12 months in the past. There was only a two-month provide of houses on the market in October. That’s unchanged from September, as new listings additionally elevated to fulfill demand. One 12 months in the past, the unsold stock index stood at a 3-month provide. Under please discover regional statistics for Southern California.

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Have an awesome weekend!

 

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