Stocks lower this week – Stocks were down slightly again this week. They are down about 3% from their all time highs just 3 weeks ago. It should be noted that they are still up over 10% since November. First quarter earnings will begin to come in over the next few weeks. The Dow Jones Industrial Average on March 31, 2017 was 20,656.10, down from last week’s close of 20,663.22. The S&P 500 closed the month at 2,355.54, down from 2,362.72 last Friday. The NASDAQ closed the month at 5,877.81, down from last week’s close of 5,911.74.
Treasury Bond slightly lower again this week – The 10-year Treasury bond ended the week at 2.38%, down from 2.40% last week. The 30-year treasury yield ended the month at 3.00%, down slightly from 3.02% last Friday.
Mortgage Rates – The April 6, 2017 Freddie Mac Primary Mortgage Survey reported that the 30 year fixed mortgage rate average was 4.10%, down from 4.14% last week. The 15 year fixed was 3.36%, down slightly from 3.39% last week. The 5-year ARM was 3.19%, slightly higher than 3.18% last week.