We can finally stop about the federal homeowner and start living it. This time around, the credit has not only been extended, it has been approved. First-time homebuyers- anyone who hasn't owned a home in the past three years- will still get up to $8000 to apply against their federal tax liability, but buyers who have owned their current homes at least 5 years will also be eligible for tax credits up to $ 6500. To qualify, buyers must sign a purchase no later than April 30, 2010  and close buy June 30th.


Good news last month ( Nov. 09 ) the Fed stated that it will maintain the federal funds rate- the rate banks use to lend to each other- near zero for "an extended period". This is indeed good news for borrowers seeking a mortgage loan.