Vatche's Real Estate

Please join me tomorrow August 20, 2017 for our open house! 1-4PM 5108 Otis Ave Tarzana CA. 91356 6BD 8BA | 6,900 SF| 15,000 Sq Ft lot. First open house! Stunning Mediterranean estate South of the Blvd. For private showings please message me!

Economic update for the week ending July 7, 2017 Employers add 222,000 jobs in June -Hiring rebounded in June according to The Bureau of Labor Statistics, as em...ployers added 222,000 new jobs. Although the unemployment rate ticked up to 4.4% in June from 4.3% in May, a 16 year low, this was a solid report which beat expectations after a disappointing 3 months of job growth. The labor-force participation rate grew from 67.7% in May to 67.8% in June as more people entered the work force.Wages grew 0.2% in June from May and are up just 2.5% over the last 12 months.That's well below average wage growth and still stumping experts. It's highly unusual to have low unemployment without healthy wage growth. Stocks higher this week - Stocks rallied after Friday's jobs report. After a lackluster week in which disappointing auto sales, weakness in "brick and mortar" retail, and pressure on tech firms, stocks rebounded as more workers thanexpected were hired in June. The Dow Jones Industrial Average ended the week at 21,414.34, up from 21,349.63 last week. The S&P 500 closed the week at 2,425.18, unchanged from its close last week of 2,423.41. The NASDAQ closed the week at 6,153.08, up from last week's close of 6,140.42. Bond yields higher again this week- The 10-year Treasury bond closed the week at 2.39%, up from 2.31% last week. The 30-year treasury yield ended the week at 2.93%, up from 2.84% last week. Mortgage rates follow treasury bond yields so we watch bond yields carefully. Mortgage Rates higher this week week The July 6, 2017 Freddie Mac Primary Mortgage Survey reported that the 30 year fixed mortgage rate average was 3.96%, up from 3.88% last week. The 15 year fixed was 3.22%, up from 3.18% last week. The 5-year ARM was 3.21%, up from 3.18% last week. Unfortunately, rates rose late in the week so next weeks rates will be higher. Have a great weekend!

Economic update for the week ending June 10, 2017 Stock markets have lackluster week - Stocks were mixed this week with all indexes at or near all time highs. F...inancial stocks rallied after The House voted to scale back on financial regulations and consumer protection in The Dodd Frank Financial Reform Bill. This now goes to the senate, but it was the first step in cutting back regulations on financial firms. Energy companies got a boost out of higher oil prices. Tech stocks which have shown almost a 15% gain since the November election lost some ground as investors feel they may be nearing their peak values. The dollar strengthened after The United Kingdom election left the Prime Minister in power, but badly tarnished as she lost her majority in Parliament. Political drama dominated the news here again thisweek, but aside from all time high TV ratings political uncertainty has not had any negative effects on markets. The Fed meets next week in interest rate policy. They may raise short term rates, but fixed 15 and 30 year rate loans are more tied to inflation, which is tame. Fixed rates are the lowest they have been all year and shouldn't move much either way. The Dow Jones Industrial Average ended the week at 21,271.97, up from 21,206.29 last week. The S&P 500 closed the week at 2,431.77, just off its close last week of 2,439.07. The NASDAQ closed the week at 6,207.93, down from last week's close of 6,305.80. Bond yields rise this week - The 10-year Treasury bond closed the week at 2.21%, up from 2.15%, last week. The 30-year treasury yield ended the week at 2.86%, up from 2.80%, last week. Mortgage rates follow treasury bond yields so we watch bond yields carefully. Mortgage Rates down this week The June 8, 2017 Freddie Mac Primary Mortgage Survey reported that the 30 year fixed mortgage rate average was 3.89%, down from 3.94% last week. The 15 year fixed was 3.16%, down from 3.19% last week. The 5-year ARM was unchanged at 3.11%. Next week we should have some home sales and price data for May.

Economic update for the week ending May 13, 2017 Stocks mixed this week - It was a very stable week for stocks. Market volatility reached a 24 year low. Investors were encouraged by higher quarterly corporate earnings announcements from many companies, and a rebound in CPI which surprisingly dropped in March. Also optimism of pro growth tax reform, and defense and infrastructure spending kept investors optimistic. Markets shrugged off some disappointing news this week like : ...Falling oil prices which has caused energy stocks to drop. Oil prices are down 10.8% year to date. Some retail companies continue to struggle due to pressure from on-line retailers. Year to date 9 large retailers have declared bankruptcy, the same amount as all of last year. The dollar strengthened further against most currencies which could hurt exports in the future. The Dow Jones Industrial Average ended the week at 20,896.71, down from 21,006.94 last week. The S&P 500 closed the week at 2,390.90, down slightly from its close last week of 2,399.29. The NASDAQ closed the week at 6,121.23, up from last week's close of 6,100.76. Consumer prices rebound in April - The Labor Department reported that consumer prices rose 0.2% in April. This followed a surprising decline of 0.3% in March which scared investors. Year over year consumer prices were up 2.2% in April. That is in line with the Fed's inflation target. Treasury Bond yields - The 10-year Treasury bond closed the week at 2.33%, down from 2.36% last week. The 30-year treasury yield ended the week at 2.98%, unchanged from 2.99% last week. Mortgage Rates The May 11, 2017 Freddie Mac Primary Mortgage Survey reported that the 30 year fixed mortgage rate average was 4.05%, almost unchanged from 4.02% last week. The 15 year fixed was 3.29%, almost unchanged from last week's 3.27%. The 5-year ARM was 3.14%, also almost unchanged from 3.13% last week. Foreclosures at lowest level since 2005 - Foreclosure filings dropped 23% from one year ago. The number of homes in default have hit their lowest level since November 2005.