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To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years. The tax credit does not have to be repaid. The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $6,500. Th...
This week's economic news was mixed for mortgage markets. A speech from Fed Chief Bernanke pushed mortgage rates lower early in the week, but weak results in the Treasury auctions caused them to turn higher again later in the week. In the end, mortgage rates finished with little net change. Despi...
HOUSING BEATS STOCKS AS AN INVESTMENTHousing continues to be a solid investment, largely unaffected by the volatile movementsof the stock market, according to the National Association of Realtors.The sharp changes in the financial markets over the last year underscore thestability of residential ...
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