Danville Mortgage Blog

7 Weeks Remain To Find A Home, Claim Up To $8,000 In Tax Credits

In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of "move-up" buyers -- homeowners that have owned and lived in their home for 5 of the last 8 years. The credit ranges up to $8,000 per buyer. There's now just 7 weeks left to take advantage. To be eligible, home buyers must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010. Related posts:

What’s Ahead For Mortgage Rates This Week : March 8, 2010

Mortgage markets improved last week in low-volume trading. Related posts:

Pending Home Sales Drag In January, But Should Rebound For Spring

Fewer homes went under contract in January as the housing market continues to limp through the winter months. According to the National Association of RealtorsÂ®, the Pending Home Sales Index fell to its lowest level in 3 quarters this January. By contrast, in October 2009, the index had touched a 3-year high. Related posts:

Tying Friday’s Jobs Report To Rising Mortgage Rates

Non-Farm Payrolls is the official name of the government's monthly jobs report and, given the fragile state of the U.S. economy, Wall Street will be watching it closely. Mortgage rates could spike come Friday morning. Related posts:

How To Properly Screen A Prospective Tenant

According to the the National Association of RealtorsÂ®, "distressed homes" represented nearly 2 of every fifth home sold in January 2010. Clearly, real estate investors are taking advantage of good deals on cheap property. But there's risk involved. No related posts.

Existing Home Sales Drop Again In January But Stay On The Trendline

Anecdotal evidence is showing sales activity higher through February and into March. And, although it's unlikely we'll see a spike through April like we did last November, buy-side demand for homes should remain strong. The good news of the sagging sales reports is that today's buyers may find home prices are lower and sellers are more willing to negotiate. Related posts:

What’s Ahead For Mortgage Rates This Week : March 1, 2010

Mortgage markets improved last week as economic reports painted a less-than-stellar portrait of the U.S. economy and concerns of a looming monetary policy change eased. Mortgage pricing improved dramatically, despite a late-Friday retreat. Related posts:

The Home Price Index Shows Some Regions Up, Some Regions Down

Publishing on a 2-month lag, the Federal Home Finance Agency said home prices fell by 1.6 percent nationally in December. And that's an average, of course. Some regions performed well in December as compared to November, others didn't. Related posts:

As The Supply Of New Homes Grows, So Does The Opportunity For A “Good Deal”

New Home Sales fell 11 percent from the month prior and posted the fewest units sold in a month since 1963 -- the year the government first started tracking New Home Sales data. It may be good for home buyers. Related posts:

December 2009 Case-Shiller Data Shows Battered Markets In Bona Fide Recovery

Using data compiled in December, Standard & Poors released its Case-Shiller Index Tuesday. The report shows home prices down just 2.5% on an annual basis, a figure much lower than the 8.7% annual drop reported after Q3. Related posts: