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Wednesday, November 18, 2009
Mortgage professionals predict interest rates will increase slightly over the next 90 days| The
Mortgage Rate Trend Survey summarizes where mortgage professionals think mortgage rates are headed in the future. To conduct
this survey, Mortgage-X asks more than 250 experts in the mortgage field about their expectations for the mortgage market. | | Over the next 30 days: | Over the next 90 days: | | rates will rise significantly: 3.4% | rates will rise significantly: 13.8% | | rates will rise slightly: 13.8% |  rates will rise slightly: 41.4% |  rates will remain unchanged: 51.7% | rates will remain unchanged: 24.1% | | rates will decline slightly: 31.0% | rates will decline slightly: 20.7% | | rates will decline significantly: 0.0% | rates will decline significantly: 0.0% |
| Currently, about 52% of the participating mortgage professionals believe mortgage
rates will remain unchanged over the next 30 days and 41% believe mortgage rates will rise slightly over the next 90 days.
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Note:
Mortgage-X is not responsible for decisions based on the Mortgage Rate Trend Survey. The reported Survey results
are for informational purposes only.
Tuesday, November 17, 2009
Homebuyers and Sellers - It's time to get off the fence.
Tue, November 17, 2009 | link
Wednesday, November 4, 2009
Expanded Recovery Act Tax Credits Help Homeowners Winterize their Homes, Save Energy
The IRS announced The American Recovery and Reinvestment Act has expanded two home energy tax credits (the
nonbusiness energy property credit and the residential energy efficient property credit). "People can
now weatherize their homes and be rewarded for their efforts. According to the Internal Revenue Service, homeowners making
energy-saving improvements this fall can cut their winter heating bills and lower their 2009 tax bill as well."
(http://www.irs.gov/)
For eligible energy improvements , homeowners can earn a tax credit at 30% of the cost, up to $1500.00 for the combined years 2009 and 2010. Improvements
included in the nonbusiness energy property credit include windows, doors, insulation, roofing, HVAC, water heaters
and biomass stoves.
Homeowners (existing homes and new construction) who are investing in alternative
energy equipment can earn a second credit equaling 30% of the cost, with no upper limit through 2016.
This credit is available for improvements including geothermal heat pumps, solar panels, solar water heaters, wind turbines,
and fuel cells.
*Tax credits available for home improvements: - must be "placed in service" from January 1, 2009 through December 31, 2010
- must be for taxpayer's principal residence, EXCEPT for geothermal
heat pumps, solar water heaters, solar panels, and small wind energy systems (where second homes qualify)
- $1,500 is
the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements,
EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems which are not
subject to this cap, and are in effect through 2016
- must have a Manufacturer Certification Statement to qualify
- for record keeping, save your receipts and the Manufacturer Certification Statement
- improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695
(2009 version) — it will be available late 2009 or early 2010
- If you are building a new home, you can qualify
for the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind energy systems and fuel cells,
but not the tax credits for windows, doors, insulation, roofs, HVAC, or non-solar water heaters.
*http://www.energystar.gov/index.cfm?c=tax_credits.tx_index#c1
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