Nashville Real Estate Forum

Stocks closed with gains on Friday for the first time this week as concerns abated over rising oil prices and their effect on the economy.

Oil edged back under $100 a barrel as Saudia Arabia said it would make up any shortfalls created by unrest in Libya. Markets were roiled when trading resumed after being closed Monday for President's Day by news of protesters being gunned down by the military in Libya.

Major indexes still closed down for the week after selling off for three days. The Dow Jones Industrials settled at 12,130, down 2.1% for the week, and the S&P 500 and Nasdaq indexes were off just under 2% for the week. Stocks in all sectors have been rising persistently since September, and this was the worst one-week performance since November.

Mortgage rates, which had been trending up since November, dropped slightly as money moved from stocks to Treasuries and related instruments on a flight-to-quality play. The 10-year Treasury closed at a yield of 3.43%, compared to last Friday's close of 3.59%.

The Michigan Consumer Sentiment Index for February came in at 77.5, which was the highest mark in three years and which measures how consumers feel about the economy and about spending their money.

The U.S. economy grew 2.8% in the fourth quarter, according to the Labor Department's revised figures.

If you are thinking about purchasing real estate, now is the time. If you have not refinanced in the last year, please call me and we can look at your options and see if it makes sense.

Contact me to prepare for homeowners a refinance scenario, or to pre-approve a prospective buyer or to provide marketing tools for Realtors and Builders.

Gary Moore 615-579-8658, email Gary@BrentwoodHomeLoan.com. Web site: www.BrentwoodHomeLoan.com

First Community Mortgage is part of a locally owned community bank, and we control the loan process in-house as we underwrite all conforming and government loans. We fund the closings with our money, so no one has to wait on a distant wholesale division of a massive, national corporation to send funds.

30-Year Conventional Fixed

4.75% $200,000-$417,000

15-Year Conventional Fixed

4.15% $200,000-$417,000


30-Year FHA-100% VA

4.25% $100,000-$393,300


30-Year Jumbo Fixed

5.5% $417,001-$900,000

(Interest-only available-Call me)

Rural Housing 100%

5.0%

THDA Great Start

5.35% $100,000-$393,300

4% of sales price Gift

Call for free pre-approval and to discover

the best financing for you!

...by Gary Moore

Mortgage Planner, First Community Mortgage

...a subsidiary of First Community Bank

Cell: 615-579-8658 Toll-free fax: 866-321-6513

Quote of the Day

"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence." --Martin Luther King Jr.

Visit my mortgage website:

http://www.BrentwoodHomeLoan.com

(0% points, 1% origination. Market Update informs consumers and Realtors on market trends, offers subjective opinions and is not a quote for a unique borrower. Reply "remove" with your name and email address to discontinue Update.)