Weekend Market Update

Oct. 13-14, 2007

Stocks closed slightly higher for the week, while oil hit an all-time high and interest rates were higher. U.S. light crude oil for November closed at a record high of $83.69 a barrel. The 10-year Treasury closed at a yield of 4.68%, and mortgage rates were under upward pressure for most of the week. The University of Michigan’s consumer sentiment index fell to 82.0 in early October, from 83.4 at the end of September. This was less than economists’ consensus forecast. Many homeowners are under pressure from re-setting of adjustable rate mortgages. Next year is expected to see massive rate increases as adjustables break out of their fixed-rate periods.

30-Year Conventional Fixed

6.25% $100,000-$417,000

FHA-VA

6.25% $100,000-$226,100 (VA to $417,000)

Jumbo 30-Year Fixed

7.125% $417,000-$1,000,000

Flex 100%

6.875% $100,000-$417,000

Tennessee Housing Development Agency*

6% Great Rate 7% Great Start *Call for loan limits, guidelines

...by Gary Moore

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

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

"What on earth would a man do with himself if something didn't stand in his way?"
- H. G. Wells

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

Visit my real estate web site: http://realcarte.com

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