Wow, CNNMoney.com is reporting that 30-year fixed mortgage rates have dropped to an amazing 4.69%. Freddie Mac is saying it is the lowest level since they started tracking it 38 years ago. This means, yes, it is cheaper to buy a house. Unfortunately it is doubtful there will be a spike in home sales with unemployment so high, wages stagnant and tax incentives expiring.
With low home sales, home prices will continue to fall. Economists on CNNMoney.com predict by the end of next year, home prices will be at least 5% lower. However, lower home prices are bittersweet news. It’s great news for buyers, but bad news for all of those in or near foreclosure.
Read the full article here.
Thursday, June 24, 2010
Blog Archive
-
▼
2010
(1176)
-
▼
June
(173)
- Senate Combines Jobless Benefits, Homebuyer Credit
- Get Tan Today: 10% Tax On Its Way
- 7 States that Still Owe their Citizens Refunds
- Bank Tax Tossed from Financial Reg Reform
- Dad Won't Pay For College, So Daughter Sues
- Stupid things people do in the hope of saving money
- U.S. Lawmakers Reach Accord on New Finance Rules
- Use your vacation to do something good -- and get ...
- Robert C. Byrd, a Pillar of the Senate, Dies at 92
- The Tanning Tax Explained
- Five Rules For Inherited IRAs
- Lowering Your Tax Liability
- The 10 Missteps of Financial Reform
- Rapper Method Man Pleads Guilty to Tax Evasion
- 5 Tips on Obtaining Insurance for your Franchise B...
- Could We Be Entering a Third Depression?
- Death of "Marty" Ginsburg
- Job Blues for Gray-Haired Workers
- A Responsible Estate Tax
- Questions for the Tax Lady: June 28th, 2010
- IRS Provides Tax Help, Guidance to Gulf Oil Spill ...
- Wesley Snipes' Lawyers want to Adjust Appeal Reque...
- Unemployment Benefits Extension Nixed for Nearly 1...
- Anti-Tax Initiative Qualifies on California Ballot
- Government Revises GDP Estimate Down to 2.7% For 1Q
- Why Are Weddings So Expensive? Historians Find the...
- Lawmakers Seal Deal On Historic Wall St Reform
- Bonds: Avoid the next great bubble
- 200,000 could lose out on homebuyer tax credit
- Are BP payments taxable income?
- Mortgage rates hit new low
- New York May Tax Clothing Sales to Narrow Budget Gap
- The Dumbest Financial Laws Of All Time
- Ex-Detroit Mayor Indicted on Fraud, Tax Charges
- Banks: We're Hiring So We Can Make More Home Loans
- Latest Good Reads
- New Drill Ban as Oil Still Spews
- New Credit Card Rules Effective August 22. What yo...
- Fed To Keep Rates Low To Support Weak Recovery
- One More Worry for Banks: Wal-Mart
- Consumers Say: "In tweets we trust"
- Half of all loan modifications delinquent again wi...
- 5 Tips for Protecting Your Home from Foreclosure
- Prisoners cashed in on homebuyer tax credit
- A Scramble to Finish Bank Rules This Week
- Nebraska Town Votes to Banish Illegal Immigrants
- New Jersey Democrats fail to extend millionaires tax
- The Price of Saving Fuel
- Permanent middle class tax cuts too costly
- 10 Vehicles that Still Qualify for a Federal Tax C...
- People Buying Gold Coins to Avoid Taxes
- Tax-Saving Moves for Small Businesses
- NY: Get Ready for $11 a Pack Cigarettes
- World's Rich Got Richer Amid '09 Recession
- Three Signs Housing's Getting Weaker
- Questions for the Tax Lady: June 21st, 2010
- IRS ETAAC Presents Annual Report to Congress
- Corporations Reap Tax Windfalls on Stock Options
- Tax Court Denies Charitable Deduction for $200 Cas...
- White House to hold bipartisan talks on energy reform
- Latest Budget Extender Includes Tobacco Taxes
- California unemployment falls to 12.4 percent
- Nearly 1,400 O.C. Residents Miss IRS Refunds
- UBS Customers: You May Want To Call The IRS Right Now
- More Non-Profits Win Exemption From Campaign-Finan...
- Senator Sees Big Reporting Gap In Stock Options
- Will a Call Center Tax Improve the Unemployment Pr...
- U.S. banks may end free checking accounts: report
- Talk Tax With Your Partner
- Senate: Oil and Gas Industry Tax Breaks Remain
- How to Find a Low-Tax Place to Retire
- Saving For Retirement On a Part-Time Salary
- Couple Convicted in Tax Shelter Scheme
- BP to Set Up $20 Billion Cleanup Fund
- Consumer Prices Dip For Second Straight Month
- Latest Good Reads
- One in five older Americans is a victim of financi...
- Grand Prize Winner Selected!
- Bank Profits Rise, But So Do Bad Loans
- Unemployment Bill Dealt Senate Defeat
- Families In Homeless Shelters Increased 7% In '09
- Feds Bust Billion-Dollar Mortgage Fraud Ring
- Affordable Care Act Provides Expanded Tax Benefit ...
- Is the 401(k) dead?
- Tax Deduction of the Week: Rental Properties
- Democrats' Tax Bill Moves Toward Vote In US Senate
- The Unemployed Held Hostage
- Small Banks Are Big Problem In Government Bailout ...
- Home builders' index dives after tax break expires
- Host broadcasters to 'filter' noise
- World Cup's winning formula: USA! USA! USA!
- 134-year-old oyster company stops shucking
- The Tax Implications of the Gulf Oil Spill Catastr...
- 15 most hated fees
- Democrats want investigation into surprise Senate ...
- In America, Old Glory represents more than just pa...
- Friday – Sunday’s Contest Winners
- Questions for the Tax Lady: June 14th, 2010
- Why You Shouldn't Convert to a Roth IRA
- IRS Issues Regulations on 10-Percent Tax on Tannin...
-
▼
June
(173)
