Back in the old, pre-financial market meltdown days, mortgages used to be among those products which benefited from these kinds of flight-to-quality moves. Today’s new securities, of course, have market and interest rate risks, but are built from mortgages comprised of much better borrower stock than those of a couple of years ago. This being [...]

The $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers have expired. (However, service members who were on official extended duty outside of the United States for at least 90 days between Jan.1, 2009 and May 1, 2010, may qualify for a one-year extension.) For home purchases where [...]

The homebuyers tax credit is going to expire in two more days unless a contract is signed and closed before the end of June. The tax credit jumped sales of new homes by 27% and existing homes by 6.0% in March. This morning the weekly MBA mortgage applications data confirmed that it is the tax [...]

Home Buyer Tax Credit Expires 04/31/2010 $8,000 First-time Home Buyer • The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. • The tax credit does [...]