First Time Home Buyers Tax Credit Extension with Low Mortgage Rates
Posted on | December 3, 2009 | No Comments
The first time home buyers tax credit extension along with low mortgage rates is likely to swell the interest in the current housing market. There are many major markets that are still singing home values decline so finding a great deal is probably not a problem for most buyers. Mortgage interest rates are currently at all time lows with the 30 year fixed mortgage rate around 4.6% which is slightly below the previous all time lows that were set back in March of 2010.
With the first time home buyers tax credit also being expanded to “move-up” buyers there is reason to believe that we have seen the worst of the worst when it comes to the United States housing market. First time home buyers can receive and $8000 tax credit while move-up buyers can receive a $6500 tax credit if they close on their home purchases before April 30, 2010. The data has yet to show a great interest in the housing market but it will come soon.
No one can predict just how low mortgage interest rates will go but there is no reason that you should not at least research what interest rate you can get on a home loan in the current economic environment. If you can lock into a mortgage rate well below 4.75% then it is probably not worth it to make an attempt to find the bottom of mortgage rates. You will end up savings hundreds of dollars a month by locking into these current low mortgage rates.
If the current economy and your financial struggles have gotten you down make sure to check out the inspirational blog My Life After Retail. The blog is an account of the journey to find peace of mind and happiness in today’s society.
Author: Jesse Wojdylo
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