The $8,000 first-time homebuyer tax credit has received a lot of attention lately, but it has also overshadowed another big reason to buy a home now: record-low interest rates. In May, 30-year mortgage rates of 5 percent were widely available. That’s down from January’s already-low 5.8 percent, and two percentage points less than in August […]
Archives: May 2009
Federal program to help first-time buyers use tax credit for downpayment
WASHINGTON – May 13, 2009 – First-time homebuyers will soon have another option if they want to use their $8,000 tax credit toward a downpayment. On the tails of a Florida-created program that Gov. Charlie Crist is expected to sign into law, the federal government announced its own downpayment assistance program at the National Association […]
Fed chief: Recession may end this year
WASHINGTON – May 6, 2009 – Federal Reserve Chairman Ben Bernanke said Tuesday that he expects the recession to end later this year and suggested an upcoming government report could increase confidence in the nation’s big banks. But Bernanke also said major sectors of the economy remain weak, there will likely be “further sizable job […]
More houses get multiple offers
ORLANDO, Fla. – May 6, 2009 – More homes for sale are attracting multiple offers as buyers pursue lower-price homes and banks low-ball asking prices to attract competing bids on foreclosures. Multiple bids have picked up in recent months in California and other states hit hard by foreclosures and steep price drops, real estate executives […]