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Tax Credit Extension Could Boost 2010 Home Sales

Posted by: RateAPY Bank Rates News
September 30th, 2009

A quarter of prospective first-time homebuyers say extending the $8,000 federal tax credit would heavily influence whether they buy a home before the end of next year, according to a new survey by Zillow.com. The tax credit for first-time buyers is set to expire November 30, but there’s growing talk of extending it another year ... Read more »

FOMC Meeting May Indicate Fed Rate Policy Intentions

Posted by: RateAPY Bank Rates News
September 25th, 2009

The Fed’s Federal Open Market Committee (FOMC) began one of its regularly scheduled meetings on September 22, 2009, and anxious investors wait to see if the Federal Reserve will give indications about adjustments to its monetary policy which affect everything from cd rates to mortgage rates. Fed Chairman Ben Bernanke made recent ... Read more »

Weekly Mortgage Survey Shows Refinances and Fixed-Rate Mortgages Dominant

Posted by: RateAPY Bank Rates News
September 22nd, 2009

A weekly survey of mortgage rates by the Mortgage Bankers Association provides an interesting snapshot of the mortgage market. While this survey reports average rates for purchases and refinancing as opposed to the most favorable current mortgage rates, it reveals general trends of the market.
During the week of September ... Read more »

Banks Say Watchdog Idea Bites

Posted by: RateAPY Bank Rates News
September 18th, 2009

Banks and other businesses are gearing up to fight President Obama’s proposed Consumer Financial Protection Agency, a watchdog that would oversee mortgages and other consumer loans and monitor compliance with consumer-protection laws. The U.S. Chamber of Commerce announced last week it’s launching a multi-million dollar campaign to derail the plan. The campaign will begin ... Read more »

Have Home Prices Bottomed Out?

Posted by: RateAPY Bank Rates News
September 15th, 2009

Following a three-year decline, home prices are finally creeping up, according to the latest from the S&P/Case-Shiller Home Price Index, which tracks residential real estate values. Data released last month showed home prices rose in June over May in 18 of the 20 largest U.S. cities, and the U.S National Composite Home Price Index rose ... Read more »