Stacie Hartman

The Mortgage Blog of Stacie Hartman

Expiring Programs Prompt Extension Debate

Many of the government programs designed to help stabilize the housing industry are set to expire this spring. The Federal Reserve’s purchases of $1.25 trillion in mortgage-backed securities, largely responsible for pushing interest rates to record lows, ends at the end of March. And the home-buyer tax credit, which offers $8,000 to first-time buyers and $6,500 to repeat buyers, will expire on April 30. Some have called for another extension of the already twice-extended tax credit, citing a still fragile housing market. And though most agree it has helped sell homes, economists such as Mark Zandi, of Moody’s Economy, say it has worn out its benefits. A good summary of federal programs here.

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