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Weekend Market Update

Nov. 28-29, 2009

Stocks sold off sharply in light trading on Friday, following suit with European and Asian markets after Dubai said it may not be able to repay $60 billion in corporate debt by a Dec. 14 deadline. Middle Eastern markets were closed due to a religious holiday. Subject to any weekend announcements of a bailout among Middle Eastern families and governments, international currency markets could be roiled again Monday, and there could be a broad-based move of assets into the safety of U.S. treasuries.

While the DJIA lost about 154 points on Friday, the 10-year Treasury was being bought, pushing down its yield to 3.21%.

Reports of Black Friday and holiday spending will also be grabbing headlines next week. Anecdotal evidence from retailers, such as Wal-Mart where a reported 1,000 people were in line early Friday at a California store, is leaning toward an upbeat message and numbers.

In anecdotal evidence closer to home, a manager at T.J. Maxx in Cool Springs recently told me that sales were up for comparable days in 2008. For example, for the second Saturday in November, this year’s take was $48,000 versus $35,000 for the second Saturday of November 2008.

The Labor Department will post initial jobless claims next week, while unemployment hangs at around 10.2%. Short-term information about unemployment “topping off” and thus supplying prospective fuel for the consumer-driven economy may not reflect the depth of the full unemployment picture, however, as the duration of unemployment is lengthening.

For example, those Americans unemployed for 27 weeks or more has trended from 22.1% in October 2008 to 36.5% presently. Also, widespread part-time unemployment may be masking the bigger view. The percentage of full-time unemployed is almost one per cent higher at 11.1%. (This data and analysis from http://seekingalpha.com/article/175556-u-s-unemployment-from-bad-to-worse?source=yahoo.)

Dubai World, the investment arm of the Middle Eastern state of Dubai, on Wednesday asked creditors to defer at least $60 billion in debt repayments for six months with some reports putting the number as high as $100 billion. Its apparent inability to make good on its debt was reminiscent of the Lehman Brothers failure that further froze the credit markets and pushed the stock market into a downward spiral in 2008.

Among massive projects, Dubai World developed the world’s largest shopping mall, complete with indoor ski slope; Dubai Land to compete with Disney World, and four man-made islands, three in the shape of palm trees with million-dollar beachfront homes and another island shaped like a world map. All but one of those islands are vacant. They are building the world’s tallest building, which has yet to open.

Existing home sales reported by the National Association of Realtors surged in October, driven in part by the Nov. 30 deadline for the $8,000 Recovery Act credit to first-time buyers. That deadline has now been extended to April 30, 2010, and move-up buyers are now included in the windfall with a buying incentive of up to $6,500. Please call me for additional information about your best strategy for taking advantage of these buying incentives.

30-Year Conventional Fixed

4.75% $100,000-$417,000


FHA-100% VA

5% $100,000-$393,300


100% Guaranteed Rural Housing w/no MI

5.5% $100,000-$417,000

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

5% $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

"Regardless of the dollar price involved, one ounce of gold would purchase a good-quality man's suit at the conclusion of the Revolutionary War, the Civil War, the presidency of Franklin Roosevelt, and today."

- Peter A. Burshre

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.)

Tips from the Trenches

Things That Are
Difficult to Say...

By Gary Moore

Mortgage Planner

NOTE: No sage market insights in this Tips from the Trenches. This is just for fun, passed along to me by my assistant, Courtney Snyder.

THINGS THAT ARE DIFFICULT TO SAY WHEN DRUNK:
1. Innovative
2. Preliminarily
3. Proliferation
4. Cinnamon

THINGS THAT ARE VERY DIFFICULT TO SAY WHEN DRUNK:
1. Specificity
2. Anti-constitutionalistically
3. Passive-aggressive disorder
4. Transubstantiate

THINGS THAT ARE DOWNRIGHT IMPOSSIBLE TO SAY WHEN DRUNK:
1. No thanks, I'm married.
2. Nope, no more booze for me!
3. Sorry, but you're not really my type.
4. Taco Bell? No thanks, I'm not hungry.
5. Good evening, officer. Isn't it lovely out tonight?
6. Oh, I couldn't! No one wants to hear me sing karaoke.
7. I'm not interested in fighting you.
8. Thank you, but I won't make any attempt to dance; I have no coordination. I'd hate to look like a fool!
9. Where is the nearest bathroom? I refuse to pee in this parking lot or on the side of the road.
10. I must be going home now, as I have to work in the morning.

(Check out http://brentwoodhomeloan.com Mortgage Planner Gary Moore produces Tips from the Trenches, copyright 2002-2009, designed for up-and-coming Realtors and those who seek continual improvement, from the perspective of business partner and teammate. Bringing a background of experience as a Realtor, Homebuilder and PR advisor, I seek to help you build your business and enhance your value to customers by providing specialized resources, training and insights. Contact me at 615-579-8658 for group or personal training and to pre-approve your prospects into the program which best serves their unique picture.)

Weekend Market Update

Nov. 21-22, 2009

Short-dated U.S. Treasuries rallied on Friday, sending yields on the two-year note to 11-month lows, as investors sought the safety of government instruments on fears that this year's stock market rally had run its course. Some market watchers said money managers were taking profits and were merely parking money.

Dell dragged down the tech sector after the company reported a 54% slide in corporate profits and sales that missed estimates. Major stock indices were down 1% or less for the week, while the Dow's losses were curbed by gains in defensive stocks---such as Coca-Cola and Merck.

Stocks have been in a near-term pattern of strong Mondays and selling into the weekends. The 10-year Treasury closed at a yield of 3.36%. Mortgage rates benefited from this week's action.

The National Association of Realtors on Monday reports October resale numbers. Sales are expected to show an upturn over September, due in part to first-time buyers rushing to close before the recently extended November deadline. That data is not expected to move the market unless it surprises greatly one way or another. The extended Home Buyer Tax Credit will apply to any sales under contract as of April 30 and closed by July 1, 2010.

30-Year Conventional Fixed

4.75% $100,000-$417,000


FHA-100% VA

5% $100,000-$393,300


100% Guaranteed Rural Housing w/no MI

5.5% $100,000-$417,000

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

5% $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

"If a man is offered a fact which goes against his instincts, he will scrutinize it closely, and unless the evidence is overwhelming, he will refuse to believe it. If, on the other hand, he is offered something which affords a reason for acting in accordance to his instincts, he will accept it even on the slightest evidence." - Bertrand Russell

Visit my mortgage website:

http://www.BrentwoodHomeLoan.com

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.)