Today’s Wall Street Journal has a nice Q & A discussing eligibility requirements for the $8,000 tax credit. Hint: it’s more complicated than you think. Here’s the link: “Cracking a Valuable Home Buyer Credit“Read More
Banks Not Passing Along Rate Drop? After a dramatic drop late Wednesday, 30-year mortgage rates have leveled off at 4 5/8% at the moment. Given the size of the Fed commitment — up to $1 trillion in new cash aimed at mortgages — you’d expect rates in the low 4’s. Why hasn’t that happened (or...Read More
If you’ve been out of the loop the last 48 hours or so, the big finance-related news is the political firestorm precipitated by AIG’s bonuses, and the Fed’s decision to create $1 trillion in new money (by buying mortgages and mortgage-backed securities). On the blogosphere, there is a quick consensus emerging that the the public,...Read More
