01
Apr

Daily Market Sip 4/1/2009

Well we have kicked up the new month with slightly positive data on the housing front.  The National Association of Realtors has reported a slight uptick in Pending US Home sales for the month of February.  The index was up 2.1% from a January reading of 80.4.  As we have reported in February in our monthly newsletter, we have certainly seen a pickup on the housing front.  As we continue this year the market will begin to accelerate.  As the numbers continue to improve we will begin to see the stock market react in kind, as well as general business setiment

Additionally, mortgage rates hit a new low for an average on 30 yr fixes at 4.61%.  Much of this drive lower has in turn caused a rush in refinancing for existing property owners.

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