We heard about the Federal Housing Tax Credit for the first time home buyers, but very few know about its intricacies. Most of us have great confusions regarding it. This video is going to help you to clear your doubts about tax credit.

If you monitor mortgage rates attentively, it would turn out to be a beneficial move for you. It helps you understand the difference between saving thousands of dollars over the duration of a mortgage loan and choosing mortgage loans with high interest rates. Statistics on mortgage rate trends for the year 2007 demonstrated every indication of going back to the percentage range of 6.5. Subsequent to attaining a high of almost 7% at the end of June 2007, the average 30-year FRM interest rates had slumped to rates that were present at the initial part of the year 2007. Identical mortgage rate trends were also noticed for conventional 15-year fixed rate mortgages to a somewhat lesser degree and for one-year ARMs (adjustable rate mortgages), as well.

From every report and accounts, it is evident that the number of applications for home mortgage loans is going up. When the mortgage rates are suspended at a point where they have been for the past one or two weeks, cash-out refinancing has shown a record growth of approximately 12%. There are mixed responses and it would require some more time prior to a clean picture comes out. Surveys demonstrate that refinance loans comprise almost 70% of all applications for mortgages sent over the last three months. Is it reasonable to refinance at present? Yes, it has to be in case the following factors are applicable for you:

* You are thinking about cash-out refinancing
* Existing mortgage rate is 7% or higher
* Switching the loan repayment term to a shorter one
* Low introductory rates are offered with current adjustable rates


While mortgage rates are dropping, it is a suitable time for obtaining mortgage loans or purchasing a house. It is equally essential to fulfill your mortgage needs from trustworthy mortgage brokers and lenders who are reliable and have a lot of knowledge. Find out the worth of appropriate guidance to assist you to get the correct mortgage lender.