Success is about being in the right place at the right time. The current bull market in Stocks began seven years ago today. The S&P 500 closed at 676.53 on March 9, 2009 and closed at 1,979.26 yesterday, a 193% rise. The S&P is up another 10 points this morning.
There are no economic reports due for release today. Ahead of next week’s Fed meeting, Fed Fund Futures are pricing in an almost zero percent chance of a rate hike at that meeting.
The Mortgage Bankers Association this morning shows the average Conventional 30 year loan is going for 3.83% today. That’s due in large part to lower, or no cost loans (of which I have always been a huge proponent) brought on by low housing inventory, multiple offers, and tight appraisals.