Current Mortgage Rates for 12.28.10

For an up-to-date rate quote for your particular situation, call Chris Lester, PrimeLending, at …804.767.7566 30 year conventional fixed – 4.5% + 0 + .75 30 year FHA fixed – 4.375% + 0 + .75 5/1 conventional ARM – 3.125% + 0 + 0 5/1 FHA ARM – 3.25% + 0 + 0 The Week in Review Yet again we ended the week with mortgage rates higher than the previous. Stronger than expected consumer confidence, ADP employment, and... [Read More...]

Details of the Home Buyer Tax Credit

We get a lot of questions about the home buyer tax credit for both new home buyers and move-up buyers. Here are the details: The Tax Credit will be $8,000 for First Time Homebuyers, and $6,500 for Move-Up Homebuyers. Move-Up buyers will be eligible as long as the home they are leaving has been their principal residence for five or more years. The Tax Credit will end on April 30, 2010. However, there is a binding contract rule that permits those... [Read More...]