November Nashville Mortgage Rate Update

November 3, 2009 by admin · Leave a Comment 

Freddie Mac reports that Nashville mortgage rates continued to drift higher last week, with average interest of 5.03 percent on a 30-year fixed loan – up o.o3 percent from a flat 5 percent the previous week. The government-sponsored enterprise reports that 30-year fixed rates have been hovering around the 5 percent mark as a result [...]

Senate Debates Extending First Time Buyer Credit

October 29, 2009 by admin · 3 Comments 

Bloomberg.com reports that the Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation’s housing market. Senate Democrats have announced plans to extend the credit until April 30, 2010, while expanding it to include higher-income Americans and some who already own homes. Senate Finance Committee Chairman Max [...]

Nashville Mortgage Rates Move Lower

September 16, 2009 by admin · Leave a Comment 

Freddie Mac reported a dip in borrowing costs for long-term mortgages this week. According to the federally chartered company, the average interest on 30-year loans fell to 5.08 percent from 5.14 percent a week ago; while rates on 15-year loans came down to 4.54 percent from 4.58 percent. Adjustable-rate mortgages declined as well, with the [...]

Federal Tax Credit Used as Down Payment

May 22, 2009 by admin · 9 Comments 

At last week’s NAR Mid-Year Conference in Washington, HUD Secretary Shaun Donovan, said that the Federal Housing Administration (FHA) is going to permit its lenders to allow home buyers to “monetize” the $8,000 tax credit for first-time home buyers, to be used as a down payment. In his remarks to Realtors, Secretary Donovan indicated that [...]

Nashville Mortgage Rates Still Under 5%

May 21, 2009 by admin · 1 Comment 

Freddie Mac reports a slight rise in the 30-year fixed mortgage rate to 4.86 percent during the week ended May 14 from 4.84 percent the previous week. The 15-year fixed mortgage rate inched up to 4.52 percent from 4.51 percent. Meanwhile, the five-year adjustable mortgage rate slipped to 4.82 percent from 4.90 percent; and the [...]

Another Tax Credit for First Time Home Buyers

May 5, 2009 by admin · 2 Comments 

Earlier this year, Congress passed the American Recovery and Reinvestment Tax Act of 2009 (”2009 Tax Act”). In division B, Title I, Section 1006, there is a provision for a First Time Homebuyer Tax Credit (Form 5405) up to $8,000 or 10% of the purchase price. This act provides for an exception for principal residences [...]

Nashville Mortgage Rates Hit Record Low

April 2, 2009 by admin · 2 Comments 

With the Federal Reserve planning to purchase another $750 billion in mortgage-backed securities and up to $300 million in Treasuries, Freddie Mac reports a drop in long-term mortgage rates. The average interest on a 30-year loan fell to a 38-year low of 4.85 percent during the week ended March 26 from 4.98 percent the prior [...]

First Time Home Buyers Tax Credit Explained

February 24, 2009 by admin · 5 Comments 

First Time Home Buyers – $8,000 first-time home buyers (or if you have not owned a home in 3 years) tax credit for qualified home purchases in 2009. This tax credit is specifically designed to encourage prospective home buyers to get off the fence. What is the tax credit? Does not have to be repaid, [...]

Developers of The Braxton Are Sued

February 21, 2009 by admin · 6 Comments 

This article was published in The Nashville Post on February 20th. It is entitled, “Waterfront condo buyers want earnest money back“: Nine pre-sale buyers of condos in the Harpeth Shoals (The Braxton) waterfront development in Ashland City yesterday filed suit against The Braxton LLC, the firm behind the condos and one of several companies run [...]

So, What’s Up With This $8,000 Tax Credit?

February 17, 2009 by admin · 1 Comment 

Last week, as the world knows by now, Congress passed a rather large Economic Stimulus Bill, with President Obama’s signature expected this week. One of its features – a tax credit of up to $8,000 for “first-time home buyers” within a certain income range – is included. It would be incredibly bold of me to [...]

Mortgage Rates Set Another New Low

January 4, 2009 by admin · Leave a Comment 

Freddie Mac’s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage (FRM) averaging 5.10% with an average 0.7 point for the week ending December 31, 2008, down from the previous week when it averaged 5.14%. Last year at this time, the 30-year FRM averaged 6.07%. The 30-year fixed rate mortgage has not been lower since [...]

Remarkable Homes Predicts Residential Real Estate Future

December 5, 2008 by admin · 1 Comment 

In response to how popular my post regarding the 12 bold predictions for the 2009 Nashville real estate market was with my readers, I have been asked to pontificate on when rest of the US markets might turn around. We’ll, I have taken your requests to heart and dove into a huge number of publications, [...]