Jobless Claims Rise; Home Sales Fall; 30-Year Fixed Rate Hits New Record Low – Daily Mortgage Rate Update for July 22nd, 2010
July 22, 2010 by Dan Hartman · 2 Comments
For most home buyers, the first time home buyer tax credit is gone. There are a few groups still eligible. A recent extension wet through allowing buyers who entered contract by April 30th extra time to close due to challenges such as overloaded underwriting departments or delays in processing short sale agreements. In addition, members of the Armed Forces serving on official extended duty outside the US have until April 30th, 2011 to enter into a contract, and until June 30, 2011 to close, in recognition of their service, and the difficulty of taking advantage of the tax credit while abroad.
Mixed Data Weigh on Mortgage Rates, Economy – Daily Mortgage Rate Update for July 15th, 2010
July 15, 2010 by Dan Hartman · 1 Comment
At this level, refinancing makes sense for many families who though they had done it for the last time 1-2 years ago when they locked in a rate between 5.25% and 5.75%. If you currently have a 30-year fixed mortgage with a rate 5.5% or higher, you should contact your mortgage advisor for a checkup.
