News You Can Use from Gary Moore

Major stock indexes recovered much of their post-tsunami losses even as conflict in Libya continued and after-effects of radiation leaks in Japan remained uncertain. Volume was light on the up days, which suggests the rally lacked broad conviction. Mortgage interest rates reversed their drop of last week yet remain at historically low levels.

With some FHA loan costs increasing in April, please contact me this weekend to get serious on a purchase or refinance.

Stocks rose for three straight days to end the week with the Dow closing at 12,221, up 3.1% from the previous Friday's close. The S&P 500 closed at 1,314 for a 2.7% increase week-over-week, and the Nasdaq settled at 2,743, gaining 2.8% for the week.

U.S. consumer sentiment in March fell to its lowest level in more than a year as gasoline and food prices rose, according to the latest consumer survey from Thomson Reuters and the University of Michigan.

The Commerce Department reported that the U.S. real gross domestic product increased at a 3.1% annualized rate in the fourth quarter, an upward revision from the 2.8% pace reported one month ago.

The 10-year Treasury ended the week at a yield of 3.44%, up from last week's close at 3.28%. The 10-year note typically correlates with mortgage interest rates.

First Community Mortgage is a direct lender, 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. We are the second largest lender in the state in volume of THDA loans.

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

30-Year Conventional Fixed

4.75% $200,000-$417,000

15-Year Conventional Fixed

4.0% $200,000-$417,000


30-Year FHA-100% VA

4.75% $100,000-$393,300


30-Year Jumbo Fixed

5.3% $417,001-$900,000

(Interest-only available-Call me)

Rural Development 100%

5.0%

THDA Great Start

5.35% $100,000-$393,300

4% of loan amount 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
"It is easy to get everything you want, provided you first learn to do without the things you cannot get." --Elbert Hubbard

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.)