Nashville Real Estate Forum

Weekend Market Update

Oct. 27-28, 2007

Stocks rallied on Friday after earnings reports from Microsoft and Countrywide, and Treasuries took a breather from their week-long rally in advance of next week’s Federal Reserve meeting. The Fed is widely expected to drop its benchmark rate by .25%. Fed moves affect short-term rates but not necessarily long-term mortgage rates, although mortgage rates have softened recently along with a good Treasury market. Countrywide reported a loss for the past quarter but predicted a return to profitability in the fourth quarter as its recent massive employee layoffs impact its bottom line. The 10-year Treasury closed at a 4.41% yield.

30-Year Conventional Fixed

6.125% $100,000-$417,000

FHA-VA

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

Jumbo 30-Year Fixed

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

Flex 100%

6.625% $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

"Those who do not remember the past are condemned to repeat it." - George Santayana

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

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