Weekend Market Update

March 31-April1, 2007

Markets closed out the first quarter of 2007 much as they came in, if you look at the numbers, but between New Year’s and April Fools day, there was plenty of action as we had predicted in December. Stocks closed the quarter with moves of less than 1%, with the Down down .87 percent, the S&P up .18 percent, and the Nasdaq up .26 percent, for the Nasdaq’s smallest quarterly percentage move, up or down, in 27 years. Market volatility was up as the quarter was punctuated by a selloff in China’s stock market, the subprime loan debacle, rising gas prices, and continued international tension. We had said in our Dec. 16, 2006, update to watch for stocks having big down days and moving away from extremely low volatility, which we experienced through much of 2006. Treasuries and mortgage rates ended the week under slight upward pressure.

30-Year Conventional Fixed

6% $100,000-$417,000

FHA-VA

6% $100,000-$226,100 (VA to $417,000)

Jumbo 30-Year Fixed

6.25% $417,000-$1,000,000

My Community 100%

6.5% $100,000-$417,000

Tennessee Housing Development Agency*

5.4% Great Rate 6.4% Great Start *Call for loan limits, guidelines

...by Gary Moore

(0% points, 1% origination, 30-day lock. Rate pricing is subject to change and to program guidelines.)

Cell: 615-579-8658   Fax: 877=321-6513

"A bull market tends to bail you out of all your mistakes. Conversely,bear markets make you pay for your mistakes." - Richard Russell

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