Archive for the 'New Home News' Category
The average rate for 30-year fixed-rate mortgages fell back below 5 percent last week, according the weekly rate report from Freddie Mac.
The average rate dropped to 4.98 percent, from 5.03 percent the previous week. One year ago, 30-year mortgages averaged 6.20 percent.
15-year fixed-rate mortgages also fell to an average of 4.4 percent this week, again besting one-year adjustable-rate mortgages, which currently average 4.47 percent
Freddie Mac attributes the reductions to strong refinancing activity in the first three quarters of this year.
A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.
Click here to learn how you can take advantage of this $8,000 tax credit to buy the home of your dreams.
First-time home buyers who purchased a principal residence on or after April 9, 2008 and before January 1, 2009 may qualify for a $7,500 tax credit.
