A first time home buyer tax extension has been a very hot topic in Washington this past week. The tax credits are set to expire on April 30th, and many first time and move up buyers are wondering if there is gonig to be another extension. At this time it looks as if there will no extension and the expiration will take place on Friday.
I will keep you updated regarding the extension. Let me know if you have any questions.
Tuesday, April 27, 2010
Tuesday, April 20, 2010
Are You Looking to Refinance or Purchase a New Home?
Now is a great time to do either one of these if you're thinking about it while interest rates are still very low.
Refinancing : there are many programs available that are designed to help homeowners refinance even if you're underwater and your home value has gone down like in most cases these days. You can potentially save several hundred dollars monthly to go along with skipping 1-2 months of your current mortgage payments. With interest rates still very good, it's a great opportunity to take advantage of these Home Affordable Refinance Programs that won't be around for much longer.
Purchases : the same goes for purchasing a new home. I'm hoping the government decides to extend the tax credit again as this one ends April 30th, that will be a great incentive to upgrade your home or get a tax credit if you're a First Time Home Buyer. The home inventory is very high and prices are low, it's a great opportunity to get into your dream home at an affordable price.
Please don't hesitate to reach out to me so I can do an individual mortgage analysis and see what you can qualify for. I look forward to hearing from you and please refer any friends, family members or co-workers that are in the market as well.
Have a great rest of your day and week! Take care ~
Refinancing : there are many programs available that are designed to help homeowners refinance even if you're underwater and your home value has gone down like in most cases these days. You can potentially save several hundred dollars monthly to go along with skipping 1-2 months of your current mortgage payments. With interest rates still very good, it's a great opportunity to take advantage of these Home Affordable Refinance Programs that won't be around for much longer.
Purchases : the same goes for purchasing a new home. I'm hoping the government decides to extend the tax credit again as this one ends April 30th, that will be a great incentive to upgrade your home or get a tax credit if you're a First Time Home Buyer. The home inventory is very high and prices are low, it's a great opportunity to get into your dream home at an affordable price.
Please don't hesitate to reach out to me so I can do an individual mortgage analysis and see what you can qualify for. I look forward to hearing from you and please refer any friends, family members or co-workers that are in the market as well.
Have a great rest of your day and week! Take care ~
Wednesday, April 14, 2010
Fed Stopped buying Mortgage Backed Securities ; What happens to Mortgage Rates now?
Mortgage Rates took a major beating last week after the FED officially stopped buying mortgage backed securities. If last week was any indication this is not going to be a slow rise in interest rates as a lot of experts had predicted.
From what I've seen so far, we are definitely looking at mid to high 5% by the end of the year, if not higher.
If you we're looking to buy a house and had a Pre-Approval done, it may be a good idea to get it reviewed again by your lender. An already .25% increase in rate means that you may not qualify for the same amount of mortgage that you did 1 or 2 weeks back. And, if you are looking to refinance, your opportunity to get a low rate may be limited.
If you like to be updated on the mortgage market on a daily basis and hence the mortgage rate market is moving, follow my blog.
From what I've seen so far, we are definitely looking at mid to high 5% by the end of the year, if not higher.
If you we're looking to buy a house and had a Pre-Approval done, it may be a good idea to get it reviewed again by your lender. An already .25% increase in rate means that you may not qualify for the same amount of mortgage that you did 1 or 2 weeks back. And, if you are looking to refinance, your opportunity to get a low rate may be limited.
If you like to be updated on the mortgage market on a daily basis and hence the mortgage rate market is moving, follow my blog.
Thursday, April 8, 2010
HomeBuyers Scramble As Mortgage Rates Rise
Here is a great article that I thought I'd share.
http://www.msnbc.msn.com/id/36231595/ns/business-real_estate
Interest Rates as we have learned to know them are soon to be on the rise. If you're looking to either refinance or purchase a new home, now would be the time as these historically low interest rates won't be around much longer. Give me a call if you have any questions.
http://www.msnbc.msn.com/id/36231595/ns/business-real_estate
Interest Rates as we have learned to know them are soon to be on the rise. If you're looking to either refinance or purchase a new home, now would be the time as these historically low interest rates won't be around much longer. Give me a call if you have any questions.
Friday, April 2, 2010
First Time Home Buyer Tax Credit Ends on April 30th - Time Is Running Out!!!
The expiration of the first time home buyer tax is April 30th and so many buyers will be scrambling to get under contract before this date to qualify. It will be very interesting to see if there is an extension to this Tax Credit (again). If there is going to be an extension it is going to have to come very soon.
The housing market has shown signs of stabilization but there is still a long way to go. It will be interesting to see how the Obama Administration crunches the numbers when it come to the economy and home prices. Some markets still yet to recover and the tax credit may help if extended.
This is a great opportunity if you're looking to buy a home, but time is running out. Please contact me if you have any other questions regarding this tax credit or anything else related to home financing. I look forward to hearing from you.
J
The housing market has shown signs of stabilization but there is still a long way to go. It will be interesting to see how the Obama Administration crunches the numbers when it come to the economy and home prices. Some markets still yet to recover and the tax credit may help if extended.
This is a great opportunity if you're looking to buy a home, but time is running out. Please contact me if you have any other questions regarding this tax credit or anything else related to home financing. I look forward to hearing from you.
J
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