Nashville Real Estate Forum

Weekend Market Update

May 5-6, 2007

Job seekers had a harder time finding work last month as the economy cooled and wary employers added the fewest positions in two and a half years. The jobless rate edged up to 4.5, and the Labor Department said payrolls grew by just 88,000 as job losses spread beyond the struggling manufacturing and construction sectors and into retailing and financial services. That was good news for bonds, and the yield on the 10-year Treasury dropped to 4.64%. Crude fell $1.26 to $61.93 a barrel in New York, although gasoline prices have been on an upswing and are back near the $3-a-gallon range. Stocks climbed for the fourth straight session as the Dow closed at another all-time high. Giving some oomph to stocks was a report that Microsoft was in talks to acquire or invest in Yahoo. The Federal Reserve meets next week but is not expected to tinker with its short-term rate, which has not budged since last August.

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%

6.625% $100,000-$417,000

Tennessee Housing Development Agency*

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

...by Gary Moore, Mortgage Planner, PrimeTrust Bank

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

Office: 615-662-6114 Cell: 615-579-8658 Fax: 615-373-9879

"Oil prices have fallen lately. We include this news for the benefit of gas stations, which otherwise wouldn't learn of it for six months." - William D. Tammeus

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