Massachusetts Home Buyer Guide

Massachusetts home buyers and home buyers around the United States still have the opportunity to take advantage of historically low mortgage interest rates. In fact, interest rates are a bit lower than they were a few weeks ago.  

The average rate for a 30-year, fixed rate mortgage loan in the U.S. declined .07 points last week to 3.70 percent, the lowest level in more than a month, the Mortgage Bankers Association (MBA) reported March 6, 2013. 

In an effort to help affordable housing owners reduce costs and make their properties more energy efficient, the Massachusetts Housing Partnership (MHP) announced January 18, 2013 a new loan program to help its borrowers make energy improvements in their homes.

Homeowners aren't the only people to benefit from a tax break for forgiven mortgage debt that was set to expire December 31, 2012, but was extended by Congress and President Obama when they narrowly averted the “fiscal cliff” crisis.

Massachusetts home buyers, and home buyers around the country, still have super low mortgage interest rates available to them for the purchase of a home. 

After three straight weeks of declines, the Mortgage Bankers Association (MBA) reported last week that U.S. mortgage applications increased 11.7 percent. 

There have been many consequences discussed if the politicians in Washington don't come to an agreement on the so-called "fiscal cliff" budget and tax crisis by December 31, 2012. 

If the mortgage interest tax deduction were eliminated or limited, Massachusetts taxpayers would be disproportionately hurt because homes are more expensive than in other parts of the country, The Boston Globe reported December 10, 2012. 

U.S. home loan mortgage applications rose last week, with home loan purchase applications hitting the third straight high point on the year, the Mortgage Bankers Association (MBA) reported December 12, 2012.

According to some political commentators speaking last month at the 2012 Realtors Conference & Expo, the mortgage interest deduction (MID), though not specifically targeted so to speak, will likely emerge altered from the deficit talks in the nation's capital, Realtor Magazine reported November 12, 2012.

A federal fund used to support the Federal Housing Administration's (FHA) single-family mortgage and reverse mortgage insurance programs ended fiscal year 2012 with a $16.3 billion deficit, according to an annual report submitted to the United States Congress this month, Inman News reported November 16, 2012.