The Home Buyer Tax Credit is Nothing Compared to Low Mortgage Interest Rates
Posted on July 9th, 2010 by admin
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One of the biggest complaints against the Home Buyer Tax Credits that we just saw Congress extend through September 30th, 2010 was that it was artificially propping up the Housing Market. Buyers were flooding the streets to purchase real estate and take advantage of the First Time Home Buyer Tax Credit (up to $8000) and the Move Up/Repeat Home Buyer Tax Credit (up to $6500). Now that the deadline to qualify, April 30th, has passed, things have slowed down. But if $8000 and $6500 tax credits stimulated so much interest, why aren’t the streets flooded with Buyers taking advantage of record low mortgage interest rates? This Video explores just how much money you spend when mortgage interest rates change by 1%, how that compares to the tax credits, and why the average buyer may be more tempted by tax credits. All information regarding mortgage interest numbers is from http://www.bankrate.com as of 7/7/2010.
Duration : 0:5:27
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