Major US stock indexes traded near all-time highs last week, supported by strong corporate earnings and confidence that the economy continues to expand despite elevated interest rates.

The Dow Jones Industrial Average closed the week at 52,947.26, up 1.5% from 52,146.42 last week. It is up 10.2% year-to-date from 48,063.29 on December 31, 2025.

The S&P 500 closed the week at 7,411.98, down 0.6% from 7,457.69 last week. The S&P is up 8.3% year-to-date from 6,845.50 on December 31, 2025.

The Nasdaq closed the week at 25,975.82, up 1.8% from 25,520.24 last week. It is up 11.8% year-to-date from 23,241.99 on December 31, 2025.

US Treasury Bonds - Treasury yields moved higher during the week as bond investors remained cautious about inflation and the Federal Reserve, keeping mortgage rates under upward pressure heading into next week's CPI report. The 10-year treasury bond closed the week yielding 4.69%, up from 4.56% last week. The 30-year treasury bond yield ended the week at 5.16%, up from 5.06% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates -– Every Thursday, Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of July 23, 2026, were as follows:

The 30-year fixed mortgage rate was 6.58%, up slightly from 6.55% last week. The 15-year fixed was 5.96%, up slightly from 5.93% last week.

The graph below shows the trajectory of mortgage rates over the past year: