Mortgages MAX

While we generally try to avoid getting caught up in political poo throwing, we know many are anxiously awaiting news from Capitol Hill regarding the extension of the first time home buyer tax credit. Although there has yet to be definitive progress. Here are a few words of support from the Obama Administration to help you deal with the suspense….(read more)

Original post by Adam Quinones

As you are probably aware, the first-time home buyer tax credit is scheduled to expire on November 30th, 2009. Rumors were being reported last week that the U.S. Senate was considering a few different proposals for extending the tax credit. It was also reported through various sources that a vote may have been forthcoming last week.

Well, last week has come and gone and there is still no word of any resolution to passing an extension to the popular first-time home buyer tax credit. There was concern an extension to the home buyer tax credit may have been in jeopardy when they released the existing home sales for September 2009.
Existing home sales un expectantly rose to seasonally adjusted annual rate of 5.57 million homes which is greater than 9% higher than last month of August 2009 rate or 5.09 million and also September 2008 rate of 5.10 million homes.
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Original post by Dave Jefferlone

quities were slashed yesterday after the new home sales report posted an unexpected 3.6% decline for September. The S&P 500 fell 1.95%, the Nasdaq shed 2.67%, and the Dow moved further south from the 10k mark as it fell 1.21% to 9,762.69.
This morning, ahead of the first look at Q3 GDP, markets are cautious but generally looking up. That’s not bad considering economists at Morgan Stanley, BofA-Merrill Lynch, and Goldman Sachs all reduced their estimates for the preliminary survey earlier in the week….(read more)

Original post by Patrick McGee