Interest Rates Hit All Time Low

This past week, rates for a 30 year fixed rate mortgage fell below 5 percent.  This was mainly caused by the Federal Reserve putting more funds into mortgage backed securities held by Fannie Mae and Freddie Mac.
There are still some problems in home financing these days, but this definitely helps.  If rates will stay low, [...]

Filed under: Buying, Home Sales, Mortgage and Lending by Dwight's Real Estate Update
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Revised First Time Homebuyer Tax Credit

In the American Recovery and Reinvestment Act of 2009 (aka Stimulus Plan), the Federal Government amended the first time homebuyer tax credit given by the Bush Administration in 2008.  The new act increases the $7,500 tax credit to $8,000 and will be eligible on home purchases after December 31, 2008 and before December 1, 2009.
The [...]

Filed under: Buying by Dwight's Real Estate Update
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New Administration wants to slow foreclosures with Loan Modifications

I’m sure you have heard it on the news. The new administration has brought some help to homeowners having trouble paying the mortgage on their home. They have created a new program where some homeowners can modify the terms of their current mortgage or refinance altogether. This is where you are not delinquent on your [...]

Filed under: Mortgage and Lending by Dwight's Real Estate Update
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