Recent events and changes made by Fannie Mae and Freddie Mac as well as the low mortgage rates have resulted in the new home purchase applications increasing by 8% in October. The Mortgage Bankers Association has revealed important survey data which shows this considerable increase while experts are trying to figure out what caused it. Increases … [Read more...]
Archives for December 2014
Why Did Congress Eliminate the Child Tax Credit Mortgage Deduction
The congress, following an approval rate at historically low level, around 10%, voted the removal of the tax credit on earned income tax and the deduction of the mortgage interest and child tax credits from the tax code, beginning with the fiscal year 2014. This move aims to improve the way this 113th United States Congress is perceived, namely as … [Read more...]
Prices on a Downward Trajectory
Home price appreciation is slowing across many top metros in the nation. In fact, according to the S&P Case-Shiller Price Index, the drop to 4.8 from 5.5 is the first month-over-month decrease since November 2013.This drop in appreciation isn’t just across the U.S... it’s also affecting many areas of Southern California. From September to … [Read more...]