Rates are even lower and tax credits may be extended
July 1st, 2010
Written by Frost Mortgage
Categories: Economy, First-Time Homebuyer, Home Buying, Home loans, Home prices, Home sales, Homebuying, Mortgage / Credit, Mortgage Approval Process, Mortgage Guidelines, Mortgage Rates, Tax Credits
It’s a busy week in the news for potential homebuyers.
First, both 15-year and 30-year loans hit record lows for the second week in a row.
Second, as Reuters reports, the tax credit extension has passed a key hurdle:
The House backed by a vote of 409-5 a measure to extend the closing deadline to September 30 for buyers who already met the April 30 deadline to have a signed contract. The current deadline requires those buyers to close the transaction by June 30 to receive the $8,000 tax credit for first-time homebuyers.
The measure must also go before the Senate for approval.
Rates are dropping and home sales are also down.
What this means is an exceptional window of opportunity for those looking for a new home. Please contact one of our loan officers today and allow us to help you find out what is available to you. We think you’ll be glad you did.
Please take a moment to learn more about how Frost Mortgage can help you. If you're looking for a mortgage, please visit our Find a Loan Officer page. And if you're looking for the best Branch Partner opportunity in the business, please visit our Branch Opportunities page. Thank you!
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