Nashville Real Estate Forum

Weekend Market Update

Oct. 6-7, 2007

The Dow and the S&P 500 surged to all-time highs on Friday after a solid employment report rekindled optimism about the U.S. economy and corporate profits. The government reported that more than 110,000 new jobs were created in September, although the unemployment rate rose to 4.7%, reflecting many cutbacks from lenders affected by the mortgage market crash. Treasury prices dropped on the day, with the jobs numbers failing to support a slowing economy scenario. The 10-year closed at a yield of 4.64% vs. 4.52% on Thursday. Mortgage rate pricing was pressured upward.

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

7.5% $417,000-$1,000,000

Flex 100%

6.75% $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

"The desire for gold is the most universal and deeply rooted commercial instinct
of the human race." - Gerald M. Loeb

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