30 Year Fixed Mortgage Rates – First Time Home Buyer Tax Credit Expires on April 30th, 2010
Posted on | April 26, 2010 | Comments Off
The average for 30 year fixed mortgage rates has been extremely low for quite some time which has been just one more incentive for first-time home buyers to consider a new home purchase. The first time home buyer tax credit expires on April 30, 2010 so one of the incentives to buy a new home will be over at the end of this month.
Pres. Obama and his staff have worked very hard to take the necessary steps to improve the housing market. With the first time home buyer tax credit coming to an end at the conclusion of April it will be interesting to see how the overall housing market adjusts.
With 30 year fixed mortgage rates at historical lows, affordable home prices, and a tax credit available it has been one of the best times to purchase a home in recent history. Even with these incentives being in place we have still seen many housing markets struggle throughout the country.
Many analysts continue to predict that 30 year fixed mortgage rates will start to rise into the summer of 2010. At the present time we are seeing 30 year fixed rates right at 5% but there is a very good possibility that rates could rise to as high as 6% by this summer.
Author: Jeremy North