National Association of Realtors Chief Economist notes that by early summer we should be seeing a positive impact on home sales from the record-low mortgage interest rates coupled with the stimulus provisions.
- Mortgage applications for home purchases and refinancing are up 77% from the same time last year according to the Mortgage Brokers Association.
- Preliminary numbers from the Internal Revenue Service suggest 1.4 million taxpayers will claim the federal first-time homebuyer tax credit on their 2008 tax returns.
- Nationally, house prices have begun moving up again after many months of decline. According to the Federal Housing Finance Agency, home prices rose by seven tenths of a percent on average last month after falling by six and one-half percent during the previous 12 months.
Trevor Ainsworth
Randall Realtors
124 Bay St
Watch Hill, RI
www.RhodeIslandOceanFrontHomes.com