Mid-October rates for a 30-year fixed-rate mortgage averaged 4.92%. This is 6.46% less than the rate a year ago. According to Freddie Mac chief economist Frank Nothaft, rates under 5% are enticing some homeowners to take advantage of low rates to refinance their current balances. Northaft says that three out of five mortgage applications in […]
Obama Administration officials have unveiled a plan to aid state and local housing finance agencies that provide mortgages to first-time and lower-income homebuyers and enable the development or rehabilitation of rental properties. The measure will enable housing agencies in all 50 states to provide lending directly to families and enable the development or rehabilitation of […]
While an extension of the November 30, 2009, deadline for the homebuyer tax credit is actively being considered, it’s not a done deal quite yet. In the meantime, it bears noting what the first time home buyer tax credit has done and continues to do for the real estate market. Almost 50% of all houses […]
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Michael Saunders & Company
440 Gulf of Mexico Drive
Longboat Key, Florida 34228