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Some Positive News in the Real Estate Industry
July 24th, 2008 2:57 PM
Finally, something positive for the Real Estate industry.
 
There's a bill in Congress that should become law after the Senate approves, hopefully on Saturday.  It's already approved by the house.  As stated in the NY Times today, "the legislation provides some $15 billion in housing-related tax incentives, including a $7,500 tax credit for first-time byers who meet certain income qualifications.  And it permanently increases the conforming loan limit to $625,500 in the nation's most expensive housing markets."   Hopefully this will have an impact in Atlanta. 
 
We've had a slight improvement in rates today.
 
30 Year Fixed Conforming           6.375%
15 Year Fixed Conforming           5.875%
5/1 Conforming Arm                    5.875%
7/1 Conforming Arm                    6.25%
 
And don't forget these awesome JUMBO rates
 
5/1 Arm                  6%
7/1 Arm                  6.25%
 
Posted by Chrissy Neumann on July 24th, 2008 2:57 PMPost a Comment (0)
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