Nashville Real Estate Forum

Weekend Market Update

July 28-29, 2007

Stocks sold off heavily this week as concerns about lack of liquidity in the credit markets spooked investors. Deepening anxiety in financial markets is predominantly rooted in the housing sector, with default rates rising in the subprime U.S. home mortgages and the investment securities exposed to the market. That has resulted in a drastic tightening in credit conditions in recent days, as investors shy away from riskier assets, including high-yield junk bonds. Money is moving to Treasuries as a safe-haven play, and the 10-year was yielding 4.79% at the close. Oil crossed $77 a barrel. The U.S. gross domestic product grew at an annual rate of 3.4% in the second quarter.

30-Year Conventional Fixed

6.5% $100,000-$417,000

FHA-VA

6.5% $100,000-$226,100 (VA to $417,000)

Jumbo 30-Year Fixed

6.75% $417,000-$1,000,000

Flex 100%

7% $100,000-$417,000

Tennessee Housing Development Agency*

5.7% Great Rate 6.7% 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.)

Office: 615-377-0794 Cell: 615-579-8658
Fax: 866-321-6513

"Over every mountain there is a path, although it may not be seen from the valley." - Theodore Roethke

Call for free pre-approval and information
about the best program for you!

Visit my mortgage web site: http://BrentwoodHomeLoan.net