The time to act in now because... over the next 45 days two key government programs that have kept home ownership more affordable than ever are winding down to their already extended deadline dates.
First, the Federal Reserve's Mortgage Backed Securities (MBS) purchase program will come to an end on March 31st!! Without this program home loan rates could have been at least 1% higher... and potentially even higher...over the last year.
Second, major item to effect home buying will come on April 30th, which is the deadline for purchasers to get under contract to qualify for the Home Buyer Tax Credit program, which has been providing a tax credit of up to $8,000 to first time homebuyers and up to $6,500 to a repeat home purchaser.
Don't let this be a costly decision to stand on the sidelines. If you are in the market to buy... now is the time to act!
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