Nashville Real Estate Forum

Weekend Market Update

Nov. 7-8, 2009

Unemployment rose to a 26-year high of 10.2%, the government said Friday. Employers cut 190,000 jobs from their payrolls in October, after cutting 219,000 in the previous month, according to a Labor Department report.

Stocks were undaunted by the bad news, with a worst-is-over view and a recognition that the pace of job losses is easing. All three major averages were up for the week, and the DJIA closed back above the 10,000 mark after two weeks of selling.

General Electric led stocks, rising 6.2%, after two analysts upgraded the stock to "outperform." Fannie Mae reported an almost $19 billion quarterly loss on bad loans. The biggest U.S. mortgage lender also said it would need more help from the Treasury. Shares fell 7.1%.

The 10-year Treasury closed at a yield of 3.5%.

30-Year Conventional Fixed
4.875% $100,000-$417,000

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

100% Guaranteed Rural Housing w/no MI

6% $100,000-$417,000

30-Year Jumbo Fixed

6% $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

"It's not the most intellectual job in the world, but I do have to know the letters." -- Vanna White

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.)