Nashville Real Estate Forum

Weekend Market Update

Oct. 20-21, 2007

Stocks sold off on Friday, sparked by concerns about a weak economy after negative profit and earnings reports. Caterpillar issued a profit warning, and the company blamed more than the housing market. Caterpillar said several industries it serves were in recession and machinery sales to nonresidential builders were declining as fast as sales to residential builders, which it described as in "severe recession." Wachovia reported a 10% drop in earnings and thus added to concerns about the breadth of credit market woes on the economy. The dollar hit an all-time low against the euro. Treasuries benefited from the selling as money flowed into safer instruments, and mortgage rates eased. Friday was the 20^th anniversary of “Black Monday,” Oct. 19, 1987, when the Dow index fell 23% in one day.

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

7% $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: 615-662-6114 Cell: 615-579-8658 Fax: 866-321-6513

"As fewer and fewer people have confidence in paper as a store of value,
the price of gold will continue to rise." - Jerome F. Smith

Call for free pre-approval and information

about the best program for you!

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