Inflation rates - both general and "core" readings - just dropped to their lowest points in over 3 years (though still above the Fed's target rate of 2%).
The average daily 30-year interest rate dropped on July 11th after the release of the new inflation readings.
Long-term, weekly average 30-year interest rates:
Stock markets have been hitting new highs one after another in 2024 (though declining as of mid-day EST July 11th).
For those interested in national-market context, below are a few new data points:The daily number of U.S. active listings continues to climb, up 37% year-over-year in June, hitting the highest monthly count in 4 years. This is probably the most important dynamic in the national market today.
The number of national pending listings rose slightly on a year-over-year basis, but is being substantially outpaced by the increase in listings.
The national number of price reductions has been increasing very rapidly in 2024, up 52% year over year in Q2. Most Bay Area markets have also seen substantial jumps in price reductions.
The preliminary reading for the July Consumer Sentiment (or Confidence) Index was released last Friday, July 12th: http://www.sca.isr.
