The credit environment has changed drastically and banks are tightening their belts.  While just last year a 680 to 700 FICO scores was considered great scores, now a good FICO score is considered around the mid 700's.  In other words, credit scores 50 to 100 points greater than last year have a … [Read more...]

The National Association of Realtors®' name is being used as part of a property rental scam in which rental property is offered to consumers, who are led to believe that NAR is functioning as an intermediary to receive rental deposits from prospective tenants. "NAR is not involved in this … [Read more...]

Long-term mortgage rates fell to new all-time lows this week following a move by the Federal Reserve to buy up more than $1 trillion dollars in assets, according to Freddie Mac's weekly mortgage-rate survey released Thursday. Interest rates on 30-year mortgages stood at an average 4.85% this … [Read more...]

"The National Association of Realtors® applauds the Federal Reserve announcement today that it would purchase an additional $750 billion in Fannie Mae and Freddie Mac mortgage-backed securities and up to $300 billion in longer term Treasury securities. This is great news for American home buyers … [Read more...]

What is the fundamental issue? Individuals are permitted to deduct mortgage interest paid on mortgage debt of up to $1 million. The deduction is available for interest on mortgages for a principal residence and one additional residence. The $1 million limitation represents the combined … [Read more...]

Realtors® care about protecting consumers from unfair lending practices and are important allies in those efforts. That is the message National Association of Realtors® President Charles McMillan delivered to the House Financial Services Committee's Subcommittee on Financial Institutions and … [Read more...]

As consumers across the country prepare their 2008 tax returns, Real Estate Today is preparing to deliver crucial tax information that may affect the bottom lines of all homeowners, buyers and sellers. "Congress has passed new tax laws that will help many people who may be struggling in these … [Read more...]

The financial strain affecting so many military families required to move in a bad housing market may soon be alleviated in the newly passed $787 billion stimulus package. The stimulus - signed into law by President Obama on Feb. 17 - features a provision titled the Military Homeowners … [Read more...]