Market Update
(all values as of 01.31.2025)

Stock Indices:

Dow Jones 44,544
S&P 500 6,040
Nasdaq 19,627

Bond Sector Yields:

2 Yr Treasury 4.22%
10 Yr Treasury 4.58%
10 Yr Municipal 3.06%
High Yield 6.95%

YTD Market Returns:

Dow Jones 4.70%
S&P 500 2.70%
Nasdaq 1.64%
MSCI-EAFE 5.00%
MSCI-Europe 6.60%
MSCI-Pacific 2.30%
MSCI-Emg Mkt 1.10%
 
US Agg Bond 0.53%
US Corp Bond 0.55%
US Gov’t Bond 0.53%

Commodity Prices:

Gold 2,831
Silver 32.23
Oil (WTI) 73.81

Currencies:

Dollar / Euro 1.04
Dollar / Pound 1.24
Yen / Dollar 154.38
Canadian /Dollar 0.69
 

Higher Mortgage Rates Keep Homebuyers from Buying – Housing Market

With interest rates breaching higher levels, mortgages are becoming less affordable for millions of Americans. As a result, demand for new mortgages continues to reach decades-long lows, influencing homebuyers to either wait for rates to fall or for home prices to drop significantly.

Economists believe that a unique dynamic has evolved from the current housing environment. Existing homeowners with low mortgage rates are hesitant to sell and move into a higher-rate mortgage, enticing homeowners to stay put. This in effect minimizes the inventory of homes available for sale and possibly acts as a price buffer for available homes.

The 30-year fixed mortgage rate reached 6.65% in early March, its highest point since November of last year. This comes amidst continuously higher mortgage loan rates that reached as high as 7.08% in October and November of 2022, a 20-year high that the housing market last saw in 2002.

Sources: Federal Reserve of St. Louis, Freddie Mac.