"Here is my own personal logic. Based on what we know about the Fed's massive investment in MBS's and the fact that they can not continue to prop up the rate market for much longer, we are headed for higher rates (at some point). I feel like high rates will erode any true value of the FTHB tax credit. I can not speak for all of you but with tighter DTI/LTV guides, it's more difficult to get a FTHB into a loan than it was 4 years ago. What difference will an after-the-fact credit due to..."    View Post

"Can anyone turn me on to a source where I can monitor who is purchasing MBS's? I heard today that the FED was the only one buying but it sounds like an over dramatization. Thanks!"    View Post

"You said 'feel' so I think I can safely offer my subjective opinion to this question : ) If by lower, you mean rates trickling down an 1/8th or a 1/4 percent, sure. On any given day depending on the headlines and investor confidence, they might. However, these are the lowest rates I have ever experienced and so my gut feeling is that, towards the end of the year, we'll start to see them increase. Look, the fed's MBS purchasing program expires at the end of this year and so unless..."    View Post

"Great post, I was just discussing this very topic with another lender and I said it will not be much longer before the cost of this clever idea will start costing homebuyers."    View Post

"If a buyer purchased their home in 2008 and claimed in 2009 their $7,500 tax credit prior to learning about the $8,000 tax credit, are they eligible to amend their tax returns to take advantage of the benefits of the $8,000? I think the IRS is a little vague on this unless I'm reading it incorrectly. In one spot in the Q&A they say yes and in another part no. I know this is more an accountant question but I'm curious."    View Post