Mother’s Day is this weekend, and since you all have a mom, I thought that this would be a nice public service reminder.  Information released this morning shows that your Mother’s Day gift is going to cost 2.2% more than it did last year, unless you are buying mom a car.  In that case it’ll set you back 3.6% more.  Add in the rising cost of fuel and insurance and you are better off gifting Mom this classy mug.  There’s a positive message on it, and a flower.

Just like Mom with her new mug, interest rates are pretty happy this morning.  Despite upward pressures for the last month, the relatively low inflation numbers have put a spring in the step of Bond traders, who are pushing for lower interest rates.  It’s another gift that just keeps on giving.   

Friends without Benefits

New Home Sales surge by 18.6% last month to an annual rate of 504K, well above the 440K anticipated.  Still, according to the National Association of Home Builders, we haven’t been building this few homes since WWII.  Part of the reason is the there are over 2MM millennial “friends” (AKA YSA’s) who are choosing to stay home with Mom and Dad or shack up together in an apartment rather than purchase real estate.  This is leading to a generation ill-prepared for their financial future.

The Case Shiller 20 City Index shows home prices rose 10.8% since this time last year.  This is down from the 12.4% increase reported last month.  The median home price across the country is $213,400, averaging 47 days on the market.