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Archive for February 1, 2010

Mortgage Rates Slide Below Five Percent

February 1, 2010 Leave a comment

Long-term mortgage rates fell for the third straight week, pushing the average rate on 30-year fixed rate loans below 5 percent again, according to Freddie Mac.  

This week, January 28, 2010, average interest on a 30-year mortgage was 4.98 percent, compared to 4.99 percent  last week and 5.16 percent a year ago.  Rates on 15-year fixed loans also followed bond yields lower, averaging 4.39 percent, compared to 4.40 percent last week; and adjustable-rate mortgages also fell this week.

Check back weekly to get interest rates from Freddie Mac.  This is a great time to buy a new home.  Give me a call today and we can start looking for your dream home.

IRS Releases Revised Form 5405

February 1, 2010 Leave a comment

The IRS has released IR-2010-6, which provides a revised Form 5405 to reflect the changes to the homebuyers tax credit made in the extension and expansion legislation enacted in November 2009. 

You will need the HUD-1 or evidence of the transaction must be filed with all returns claiming the tax credit for the $8,000 First Time Home Buyer Tax Credit and the $6,500 Move-Up / Repeat Home Buyer Tax Credit. If you need more information, please read the instructions on the IRS  website.
http://www.irs.gov/newsroom/article/0,,id=218336,00.html