HomeLoans Blog

Senate leaders have come to a basic agreement to extend and to expand the Home Buyer Tax Credit - no longer the First Time Home Buyer tax credit.

The new deadline would be April 30 and would be loosened to require only sales be under contract.

Additionally, the expansion would now include many existing home buyers - those who have owned the home over 5 years.

On the rate front - the good economic news - increased GDP first time in 2 years and the drop in unemployment - combined to push rates back up from the week's lows.

Today the data on Personal Income and Consumption did not seem to vary much from expectations. That should mean rates will show little movement. We will see.