Nashville Real Estate Forum

Weekend Market Update

July 11-12, 2009

Stocks had their fourth down week in a row, and money moved into low-yielding but safe instruments, which created a favorable environment for interest rates. Now is a good time to lock a rate, it seems. If you do not already have your application in position, do not procrastinate.

The poor economic environment, weak commodity prices and high unemployment continue to weigh on the markets. The volatility index, sometimes called the measure of fear in the market, has risen to 29, which is a mid-range level that is often crossed on the way up or down. Its read was below 20 in September, and it rose to about 80 during massive selling in November.

The 10-year Treasury closed at a yield of 3.3%, vs. 3.5% a week earlier.

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

6% $100,000-$417,000

30-Year Jumbo Fixed

5.75% $417,001-$1,000,000

30-Year Jumbo 5/1 ARM (15% down, No MI)

5.25% $417,001-$900,000

(Interest-only available—Call me)

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

"Where all think alike, no one thinks very much." - Walter Lippmann

Visit my real estate website:

http://www.REALCarte.com

Visit my mortgage website:

http://www.BrentwoodHomeLoan.com

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