Market Update | APR 16

DID YOU KNOW?

Top Headlines: Delivered by Leonard Steinberg

April 16, 2024

01  The 10-year treasury soared past 4.45%.....not great for mortgage interest rates......we shall have to watch this..... The strong economic data and much stronger than expected jobs numbers added to concerns from investors about whether resilience from the economy and labor market could mean interest rates will stay elevated for longer than anticipated.

(CNBC)

02  "Let failure be a teacher, not a destroyer. Failure is inevitable."

03  20 Years ago this past week G-Mail arrived in our world and topped out at 15 MB, about the size of this one email......

(NYT)

04  Younger millennials (25 - 33 years old) made up a smaller share of homebuyers for the generation, but 24% of them moved directly from a family home before buying their own. Nevertheless, 75% of younger millennials and 44% of older millennials were first-time buyers. And they got help from their parents; 24% of younger millennials got money from their family for a down payment. (A recent survey found more than a third of millennials and Gen Zers who are planning to buy a home expect their parents, or family, to help with their down payment.)

(NAR)

05  California has the most million-dollar home cities, with 210, 12 more than a year ago and more than the next 5 runner-up states - New York, New Jersey, Florida, Massachusetts and Colorado - combined!  California may be a high tax state, but it’s one of the biggest wealth-creators - via real estate - in all of the US. 64% of homes listed are $1 million and above, the highest in the nation. 12% are $5 million or higher. In 2023 the average California homeowner had over $634,000 in home equity.

(CNBC/Corelogic)