Economic update for the week ending January 4, 2019
The Dow Jones Industrial Average closed the week at 28,634.88, down from 28,645.26 last week. The S&P 500 closed the week at 3,234.85, down from 3,240.02 last week. The NASDAQ closed the week at 9,020.77, up from 9,006.62 last week.
U.S. treasury bond yields slightly lower this week - The 10-year treasury bond closed the week yielding 1.80%, down from 1.88% last week. The 30-year treasury bond yield ended the week at 2.26%, down from 2.32% last week. We watch treasury bond yields because mortgage rates often follow bond yields.
Mortgage rates steady this week - The January 2, 2010 Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.72%, almost unchanged from 3.74% last week. The 15-year fixed was 3.16%, almost unchanged from 3.19% last week. The 5-year ARM was 3.46%, almost unchanged from 3.45% last week.