The Tax Credit is extended through April 30, an $8,000 first-time homebuyer tax credit and for second time buyers a credit in the amount of $6,500. The combination of the credit expiring soon and the Governments plan to keep mortgage rates low is coming to an end. The Government has been purchasing mortgage back securities for over a year now and pledged 1.25 Trillion dollars. These funds will be exhausted the middle of March and mortgage are expected to rise back to their normal levels.
Take away the $8,000 tax credit, mortgages rates on the rise, and this will hurt your buying power. Need more information, feel free to call or email me anytime. Have questions, we have the answers.
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Working For You Every Day!
Bill Nickerson
Vice President Mortgage Network, INC
179 Great Road, Acton MA 01720
978.264.4803 (o) 978.273.3227 (c)
Providing Mortgages Since 1991
Commercial Residential Reverse FHA/VA
1 comment:
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