Nashville Real Estate Forum

Weekend Market Update

March 8-9, 2008

The Labor Department reported that the economy lost 63,000 jobs in February, which was the worst one-month payroll drop since March, 2003. Stocks were off on Friday after that information fueled economic recession talk, and Treasuries benefited from the move out of stocks and into safer instruments. However, mortgage rates trended up for the week, caught along with stock and bond markets in a tug of war between a weakening economy scenario and a high-inflation scenario. Oil set new record highs this week, and inflation is experienced daily by us consumers. Inflation expectations cause Treasury yields and mortgage interest rates to rise. With U.S. debt at record highs and the dollar continuing to slide, higher rates loom as a way for the U.S. to continue to attract foreign buyers of Treasuries.

30-Year Conventional Fixed

6% $200,000-$432,500

FHA-VA

6.25% $100,000-$432,500

Jumbo 5/1 LIBOR ARM

6.75% $432,550-$1,000,000

Flex 100%

6.5 % $150,000-$432,500

Call for free pre-approval and to discover
the best financing for you!

...by Gary Moore

Cell: 615-579-8658 Fax: 866-321-6513

"Regardless of the dollar price involved, one ounce of gold would purchase a good-quality man's suit at the conclusion of the Revolutionary War, the Civil War, the presidency of Franklin Roosevelt, and today." - Peter A. Burshre

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

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