Treasury Bond yields lower again this week – The 10-year Treasury bond ended the week at 2.23%, down from 2.38% last week. The 30-year treasury yield ended the month at 2.89%, down from 3.00% last Friday.
Mortgage Rates – Mortgage rates dropped for the third straight week. The April 13, 2017 Freddie Mac Primary Mortgage Survey reported that the 30 year fixed mortgage rate average was 4.08%, down from 4.10% last week. The 15 year fixed was 3.34%, down slightly from 3.36% last week. The 5-year ARM was 3.18%, about the same as 3.19% last week. Rates dropped Wednesday and Thursday so next week’s rates should be about 4% for a 30 year fixed.
Retail sales fall for second straight month – The Commerce Department reported that retail sales dropped 0.2% in March. This followed a 0.3% decrease in February which was the first decrease in a year. Last March retail increased 5.2% so a 0.2% decline this March has investors wondering just how strong the economy is.
Inflation becomes more tame in March – The Labor Department reported that it’s Consumer Price Index slipped 0.3% in March. It was the first decline in prices since January 2015. For the last 12 months through March The CPI rose 2.4%. That’s down from last month when prices were 2.7% higher than last February.