Today is a bit of a slow news day so far, with no economic reports in store…although Cisco will be making an announcement later this morning that they say “will change the internet forever”, so it will be exciting to see what they have up their sleeve.

In the meantime – it’s an interesting day to take a look back to just one year ago – as today marks the 1 year anniversary of the recent bottom in the Stock market.  Back on March 9th, 2009 the Dow was at 6,547, and has risen 62% since then. 

When talking to prospects and potential home buyers, remind them that we saw the bottom in Stocks when the headlines turned overly negative, fear had risen and it seemed no one wanted to buy Stocks.  Right now we are seeing a similar sentiment in the home purchase market.  When something is out of popular favor, it’s exactly when smart people should be buying.  In fact, legendary investor Warren Buffet has this timeless rule, "Be greedy when others are fearful…and fearful when others are greedy".  Another legend, “Dean of Investing” Sir John Templeton similarly said “You want to be a buyer on the most pessimistic day, and a seller on the most optimistic day.”  As we enter Spring and the snow seems finally behind us in many parts of the country, remind people of the incredible opportunity in housing, and exactly how fearful Stock investors may have felt one year ago today…right before Stocks bottomed and turned higher.

Mortgage Bonds are trading higher, but at 1pm ET, a $40B offering of 3-Year Notes kicks off another round of auctions.

TODAY'S  RATES Does not  include adjustments or incentives
Product		Rate		Lock
15 Year Fixed	................	4.25%		15 Days
30 Year Fixed	...............	4.875%		15 Days
5/1 Agency ARM	................	3.5%		15 Days
5/1 ARM -$2MM	................	4.375%*		15 Days