The extension of the tax credit sailed through both houses and is expected to be signed by Obama in the morning. This extends the credit to houses purchased by April 30th and you must close by the end of June. $8k for new buyers and $6500 for people that have owned for at least 5 years. The income limits for the credit were also increased to $125k single, $250k joint. I think that covers most of us, and if you don't fall into those limits count your lucky stars.
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In other news, Fannie lost nearly 19 BILLION last quarter! They are running back to the Fed for more cash. They are asking for another $15 Billion. Now my math might be fuzzy but if you are losing nearly 19 billion a quarter what good is asking for $15 billion unless you plan of asking for more 2 months from now.
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Mortgage rates have just dipped below 5% again. That's good news for those folks that are looking to buy or refi. Don't get too excited though it's only just under 5% (4.98% average 30 yr)
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And Redfin is all honked up....I don;t know if anyone else noticed. They are trying to do some upgrades but it just seems to have screwed it up. Half the time it loads and the other half it times out.