Nashville Real Estate Forum

Weekend Market Update

May 16-17, 2009

Stocks took a breather from their two-month streak off March lows. The 10-year Treasury closed at a yield of 3.12%. Mortgage rates continue in a range of historic lows. Bad news about auto plant closings and dealer closings dominated headlines.

We are still unwinding all the ill effects of the economic debacle, but market watchers are choosing to focus on evidence of a slowing pace of bad news, rather than the stark numbers of unemployment or other government reports. Consumer confidence surveys are turning up, and consumer spending accounts for two-thirds of the U.S. economy.

Stocks could be in for choppy action in the week ahead. If money flows from stocks to Treasuries and mortgage-backed securities, it could serve to hold down mortgage interest rates in the near term.

30-Year Conventional Fixed
4.75% $200,000-$417,000

FHA-100% VA
5% $100,000-$393,300

100% Guaranteed Rural Housing w/no MI

5.25% $100,000-$417,000

30-Year Jumbo 5/1 ARM (10% down, No MI)

5.2% $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

"What experience and history teach is this--that people and governments never have learned anything from history, or acted on principles deduced from it." - Georg Hegel

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.)