News You Can Use from Gary Moore

That "thud" you just heard was mortgage interest rates hitting bottom again.

Underscoring the low interest rate scenario was the Labor Department's employment report for August, which showed the private sector added 17,000 net jobs but the public sector lost 17,000. Many of the losses were the result of funding withdrawn by Republican governors and legislatures. Taken out of the private sector number were about 48,000 striking Verizon workers. Unemployment remained at 9.1%.

Major stock indexes closed the books on August as the worst one-month loss since May 2010. The S&P 500 closed at 1,174, and the Dow Industrials closed at 11,240

Bank of America lost 6.6% and JP Morgan Chase lost more than 4.4% as the Federal Housing Finance Agency sued them, Citigroup Inc. and 14 other banks for allegedly misleading Fannie Mae and Freddie Mac about billions of dollars of residential mortgage-backed securities.

In the first show of backbone against corporate monopolies in many years, the Justice Department sued to block AT&T's takeover of T-Mobile. The Justice Department cited that T-Mobile's presence as a wireless player as well as certain of their innovative technology were valuable in maintaining competition for AT&T, Verizon and Sprint. Lack of competition means fewer choices and higher prices for consumers.

The 10-year Treasury confirmed the action in mortgage rates by closing at 1.996% yield. The 52-week range is 1.97%-3.74%.

Call me to get pre-approved for a purchase or to run a refinance analysis to weigh your options. Gary Moore 615-579-8658

30-Year Conventional Fixed

4.125% $100,000-$417,000


15-Year Conventional Fixed

3.375% $100,000-$417,000


30-Year FHA-100% VA

4.25% $100,000-$393,300


30-Year Jumbo Fixed

4.85% $417,001-$1,500,000

(Interest-only available-Call me)

Rural Development 100%

4.00 % $100,000-$417,000

THDA Great Start 100% with Gift

4.85% $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

"There is power, there is power in a band of working men, when they stand, hand in hand. That's a power, that's a power that must rule in every land." –Joe Hill

Visit my mortgage website:
http://www.BrentwoodHomeLoan.com

National Mortgage Licensing System #186007

Market Update informs consumers and Realtors on market trends, offers subjective opinions, does not express APR and is not a quote for a unique borrower