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October 16th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
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Interest on a 30-year fixed-rate mortgage averaged 2.81% for the week ending October 15, down from last week when it averaged 2.87%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.69%. Interest on a 15-year fixed-rate mortgage averaged 2.35%, down from last week when it averaged 2.37%. A year ago at this time, the 15-year FRM averaged 3.15%.
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| Market Mirror |
Thursday, the Dow decreased 19.80 points (0.07%) to 28,494.20, the NASDAQ lost 54.86 points (0.47%) to finish at 11,713.87, and the S&P 500 was down 5.33 points (0.15%) at 3,483.34. The Russell 2000 was up 1.34 points (0.08%) at 1,638.88, and the Wilshire 5000 closed 21.35 points (0.06%) lower at 35,993.53.
The price of the 10-year Treasury note decreased 22/32, bringing its yield up to 0.734%. The price of the 30-year Treasury bond was down 1/32, increasing its yield to 1.512%.
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ON THIS DATE: In 1829, in Boston, the first modern hotel in America opened. The Tremont Hotel had 170 rooms that rented for $2 a day and included four meals. In 1923, Walt Disney and his brother Roy founded the Disney Brothers Cartoon Studio in Hollywood, California. In 1946, at Nuremberg, Germany, 10 high-ranking Nazi officials were executed by hanging for their crimes against humanity, crimes against peace, and war crimes during World War II. In 1962, President John Kennedy was informed that there were missile bases in Cuba, beginning the Cuban missile crisis. In 1973, Henry Kissinger and North Vietnamese diplomat Le Duc Tho were awarded the Nobel Peace Prize for negotiating the Paris peace accords. Kissinger accepted, but Tho declined the award until such time as “peace is truly established.” In 1995, the “Million Man March” took place in Washington, D.C. The political demonstration aimed to promote African American unity and family values.
And now it’s time for FRIDAY FUN!
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Little girl says “no thanks” after seeing Halloween decoration.
The scary movie gets to be too much for this dog.
In Riverside, California, a couple’s fake house fire in their Halloween display is so realistic that passerby have called 911, KABC reported. While some may see it as insensitive given the fires that have ravaged California this year, firefighters who responded to the residence high-fived the husband and told him “great job,” the wife says. And, many visit the house nightly for fun. The family now alerts the authorities when they turn on the display.
In Madera County, California, a helicopter pilot working to help extinguish the Creek Fire was joined in flight by an owl. “It’s odd to have an owl enter an aircraft. It’s unheard of to have it enter while the helo is in-flight,” Sky Aviation said, according to local news stations. The owl sat with the pilot for several water drops then left.
In Fort Lauderdale, Florida, an 83-year-old war veteran was mowing his lawn when he got overheated and collapsed. A passerby called for help. Paramedics and firefighters responded and treated the man until he was better. Then, they finished cutting his grass for him. The crew said they were honored to lend a helping hand to the veteran.
Wishing everyone a safe and happy weekend!
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