3 Dates You Can't Afford To Miss! | Loudoun County VA Real Estate & Neighborhood Information

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3 Dates You Can’t Afford To Forget

Categories: Mortgage News Posted on February 16th, 2010

Remember These Dates! by… Thad Musser

Whether you are a first time home buyer or considering another purchase there are three upcoming dates that may have a major impact on your purchasing decision.

March 31^st The Federal Reserve Chairman announced their purchase program of mortgage-backed securities, which has injected nearly 1.5 trillion dollars into the economy, will not be extended. This program expires March 31^st which is expected to lead to an increase in mortgage interest rates which have been held artificially low by the program.
April 5^th, required FHA upfront mortgage insurance premiums will increase from 1.75% to 2.25%.
April 30^th, The home buyer tax credit programs expire come May 1^st. In order to take advantage of these programs a buyer must have a ratified contract before May 1^st and settle on their home within 60 days.

flickr credit- meonomous

This entry was posted on Tuesday, February 16th, 2010 at 2:09 PM and is filed under Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.