Hope That Tax Credit May Spur Buyers

With the extension of the $8,000 credit and the addition of a credit for those who have owned and lived in their home for at least five of the last eight years. 

With rates falling and beginning in January 2010, those who have the equity and can afford to refinance are taking advantage of the low rates. The refinance share of the loan market climbed 11.3 percent to 71.5 percent recently.

The 30-year fixed rate is at 4.69 percent and is the lowest since May 15. The average 15-year rate is 4.33 percent. The rate for a 1-year Adjustable Rate Mortgage was 6.85, up from 6.83

For more information on the new plan, visit the Homebuyer Tax Credit site

For more valuable information on current housing issues, please go to Making Homes Affordable.

Since there is more time to utilize the $8,000 tax credit, make this your opportunity to find the ultimate Hoboken home. Contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.

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