Archive for the National Economics Category
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Mortgage Rates Take Another Tumble
According to Freddie Mac's "Primary Mortgage Market Survey", the average 30 year fixed loan rate dropped to 4.57% with an average fee of 0.7 points. This rate applies to a conforming loan amount of $417,000 or less and to buyers with a credit score
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Federal Tax Credit “Deadline” Extended
President Obama signed an extension to the closing deadline for the Federal Tax Credit for Housing on July 4, 2010. The original legislative deadline called for all escrows opened on or before April 30, 2010 to be closed by June 30, 2010 in order to
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SoCal Home Prices Continue to Climb!
Driven in part by a slow down in the foreclosure sales numbers, a focus on coastal properties being sold and the impact of the Federal Tax Credit for Housing coming to an end, the Southern California median home sale price for May of 2010 rose 22.5%,
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Federal Tax Credit Ends April 30th!
Time is running out for home buyers to take advantage of the Federal Tax Credit! April 30, 2010 is the last day you may execute a binding purchase agreement to qualify for the Federal Tax Credit. That purchase agreement must result in an escrow c
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Federal Tax Credit for a New Home Purchase Ends Soon!
The Federal Tax Credit for purchasing a new home ends soon. By law, the buyer of a new home must sign their contract to purchase by April 30, 2010, and close escrow by June 30, 2010. That means we are in the last 45 days for home buyers to qualify fo
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