Nashville Real Estate Forum

Weekend Market Update

Feb. 7-Feb. 8, 2009

Showing their perverse nature, markets on Friday went against the news as money moved from Treasuries to stocks. The January jobless report was so horrid that investors believed it would spur Congress to approve the economic stimulus package. Stocks usually sell into bad news about the economy, and bonds usually benefit from signs of economic weakness and no inflation.

Major stock indices snapped a four-week losing streak after testing last fall's lows earlier in the week. The DJIA rose 217 points, or 2.7%, to 8,281 as 29 of its 30 components closed above the previous close. The 10-year Treasury continued to drop in price and rise in yield and closed the week at a yield of 2.98%.

The U.S. lost about 598,000 jobs last month, which was the worst showing in a third of a century, as the unemployment rate climbed to 7.6%, the highest in 16 years. About 3.6 million jobs have disappeared so far in a deepening recession.

30-Year Conventional Fixed
5% $200,000-$417,000

FHA-100% VA
5.5% $100,000-$393,300

100% Guaranteed Rural Housing w/no MI

5.5% $100,000-$417,000

30-Year Jumbo 3/1 ARM (10% down, No MI)

5.45% $417,001-$600,000

30-Year Super Jumbo Fixed

6.15% $750,000-$1,500,000

Call for free pre-approval and to discover

the best financing for you!

...by Gary Moore

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

"I don't want to make money. I just want to be wonderful."

-- Marilyn Monroe

(0% points, 1% origination, 30-day lock, subject to program. Market Update informs on market trends and is not a quote for a unique borrower.)