Market Update - April 16, 2012

April 16th, 2012

All eyes are on the Federal Reserve's Ben Bernanke. The benchmark 10-year U.S. Treasury yield pushed below the psychologically important 2 per cent level and finished last week at 1.99 per cent. A surprise drop in consumer confidence hasn't helped markets either and appears to have encouraged selling pressure to accelerate. Spanish woes and the Easter-delayed reaction to the previous week's disappointing U.S. non-farm payrolls report added to worries that sentiment of the U.S. recovery had been overstated. Hence, mortgage rates will continue to stay low for the near term.

- George Moore, Senior Vice President, Tidewater Home Funding, LLC

Tidewater Home Funding

Tidewater Home Funding, LLC NMLS# 41552
Equal Housing Lender.

Licensed in Virginia, North Carolina & Florida.

VSCC Bureau of Financial Institutions, P.O. Box 640, Richmond VA 23218-0640, (1-800-552-7945)

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