Stock markets – The Dow Jones Industrial Average closed the month at 33,874.85, up 2.4% from 33,066.96 at the end of March. It is up 10.7% year-to-date. The S&P 500 closed the month at 4,181.17, up 4.6% from 3,958.55 last month. It is up 11.3% year-to-date. The NASDAQ closed the month at 13,962.68, up 7% from 13,045.29 last month It is up 8.3% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the month yielding 1.65%, down from 1.74% last month. The 30-year treasury bond yield ended the month at 2.30%, down from 2.41% last month. We watch bond yields because mortgage rates often follow treasury bond yields.

Mortgage rates – The April 29, 2021, Freddie Mac Primary Mortgage Survey reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate was 2.98%, down from 3.18% last month. The 15-year fixed was 2.31%, down from 2.45% last month. The 5-year ARM was 2.64%, down from 2.94% last month.

The April jobs report will be released next Friday. Home sales are released on the third week of each month for the previous month.

Check back weekly for continued updates.

Sources:

Rodeo Realty, Inc.