Brian Gary at Homes That Rock News: Finance Market Update Sept. 8, 2008

Mortgage bond prices rose last week pushing mortgage interest rates lower. Trading in the financial markets remained extremely volatile with wide swings in stock and oil prices. Oil prices fell sharply at the beginning of the week pushing stocks higher and pressuring rates. Stock prices fell sharply Wednesday and Thursday helping rates recover and move lower, once again giving Middle TN homes buyers another reason to buy now.

For the week, interest rates on government and conventional loans fell by about 5/8's of a discount point.

The producer price index data Friday will be the most important event this week. There isn't much data until the latter portion of the week so oil prices, US dollar strength, and stocks will likely be the focus in the beginning.

What does this mean to you? Brian Gary with www.HomesThatRock.com in Franklin TN states "Although mortgage criteria continues to change on almost a daily basis, if you qualify, rates are great, inventory is very good, and home prices are down, creating a great time to purchase Franklin TN real estate."