There was plenty of discussion and debate leading up to the New Year's looming "fiscal cliff". Ultimately, the event was avoided, but not before legislation was passed which may benefit homeowners nationwide. If you have yet to file your 2012 taxes, take a minute to review the tax limitations and credit extensions, which Congress passed through the HR 8 legislation. You'll want to ensure you're paying the proper tax bill come April 15. Of course, every individual's tax situation is unique. … Continue reading...
What’s Ahead For Mortgage Rates This Week : January 7, 2013
Mortgage rates rose during the first week of 2013. The fiscal cliff crisis was resolved prior to the market's opening Wednesday, when legislators voted to approve a deal. While many tax cuts were extended for taxpayers earning less than $450,000 annually, other facets of the fiscal cliff issue are yet to be addressed, including budget cuts for federal government agencies. Investors were surprised to learn that the Fed may end its third round of quantitative easing (QE3) sometimes in … Continue reading...
What’s Ahead For Mortgage Rates This Week : December 31, 2012
Mortgage bonds improved last week, pushing mortgage rates lower nationwide. Positive economic news and strong housing data was trumped by ongoing Fiscal Cliff discussions on Capitol Hill. The "Fiscal Cliff" is meant to represent January 1, 2013 -- the date on which mandatory spending cuts are enacted by Congress and on which tax rates increases for many U.S. taxpayers. Some analysts believe that if these two events are to occur simultaneously, it would derail the current U.S. economic expansion … Continue reading...
What’s Ahead for Mortgage Rates This Week: December 24, 2012
Mortgage markets worsened last week amid ongoing discussions budget and tax conversations in Washington, D.C., and the release of key housing and economic data. Mortgage rates climbed nationwide. Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.37 percent nationwide for borrowers willing to pay an accompanying 0.7 discount points at closing, plus closing costs -- an increase of 0.05 percentage points from the week prior. The average 15-year fixed rate mortgage rate was … Continue reading...