News
- May 25, 2010
- Mortgage rates slipped to lowest level in 2010
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Mortgage rates fell to the lowest level of the year since mid-December this week, with the average rate on a 30-year fixed rate mortgage dipping to 4.84 percent from 4.93 percent last week. Germany’s move this week to limit certain kinds of short-selling concerned investors, who shifted money from risky European debt to safer U.S. securities. That also lowered mortgage rates.
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- May 24, 2010
- Nearly 75% of Homes are Affordable
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It’s prime time for house hunters, as more than 72% of American families making the nation’s median income ($63,8000 a year) could afford to buy a home during the first three months of 2010. The national median home price for the quarter was $175,000.
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- May 25, 2010
- Fannie Mae offering closing cost incentive
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Fannie Mae is offering a 3.5% incentive for buyers who purchase and close on a Fannie Mae-owned home by June 30, 2010. Buyers purchasing properties listed on this site that are closed within this period may receive up to 3.5% of the final sales price for 1) closing costs, 2) the purchase of new Whirlpool® appliances by Fannie Mae, or 3) a mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.
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- May 1, 2010
- $10,000 CA Home Buyer Tax Credit
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New home/first-time buyer tax credits are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before January 1, 2011. Additionally, these tax credits are available for taxpayers who purchase a qualified principal residence on or after December 31, 2010, and before August 1, 2011 (pursuant to an enforceable contract executed on or before December 31, 2010).
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