It's hardly the "dismantling" the president touted in his campaign, but the new law does ease mortgage requirements for community banks
Overall applications slip as interest rates keep climbing
One of the challenging parts of analyzing any major economy, especially one as complex as the one at home, is realizing that seemingly unrelated trends in one sector can speak volumes about what’s unfolding in another. Investors are chomping at the bit for signs of stabilization in the housing market, and with an ongoing recession it’s understandable that we’re all afraid of fiscal mirages. However, even with the looming fiscal cliff, are there indications that the housing market will continue turning the corner?
Mortgage Rates are quite low. In fact locking-in a 30 year fixed rate mortgage around 3.5% is pretty common these days.
Surveys released in the past two months by both opponents and supporters of the mortgage interest deduction (MID) seek to influence the fate of the popular tax break for homeowners as Congressional and Administration leaders struggle to find revenues to avoid the pending fiscal cliff that will trigger massive tax increases and spending cuts at the end of the year.
Real estate can be a tricky business, especially when it comes to taxes and following tax law.