Nashville Real Estate Forum

Weekend Market Update

Dec. 8-9, 2007

Mortgage rates turned up and Treasuries crossed back above 4% in yield as the market interpreted decent jobs growth numbers as going against a lower interest rate scenario. The Fed meets next week, and expectations lessened that the Fed would cut its short-term rate by a half percent. The Labor Department reported that 94,000 new jobs were added in November, which eclipsed the number the market was expecting and defied a weakening economy scenario that portrayed the credit crunch as curbing consumer spending. In the last Weekend Market Update we observed that market technicals were indicating the recent drop in interest rates was finished and rates had bottomed for this move. We do not possess the crystal ball, but that seems to be the pattern at this point. Stay tuned.

30-Year Conventional Fixed

5.75% $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

Flex 100%

6.625% $100,000-$417,000

...by Gary Moore

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

Cell: 615-579-8658  Fax: 866-321-6513

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- Ralph Waldo Emerson

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