Origination

Mortgage rates hit a two-month low, declining to 4.67 percent for 30-year fixed loans. That's down from 4.88 percent one week ago, according to Freddie Mac. The average 15-year loan was down to 3.97 percent.

The weekly data report tracking mortgage applications nationally showed a 0.7 percent drop in volume from last week's numbers, based on a seasonally adjusted composite index. On an unadjusted basis, the index decreased 0.5 percent, compared to the prior week ending March 11. The refinance index had increased by 0.9 percent since last week, making it the highest refinance survey since December 2010.

Gladstone Commercial finishes 2010 with a fourth-quarter FFO of 3.0 million, a 10.1 percent decrease compared to the same period in 2009. The downward movement is attributed to $386,000 in due diligence fees incurred in acquiring a $12.3 million property in Orange City, Iowa, which the Company was required to expense under new accounting guidance rather than capitalize as it had in years past.