mortgage

Timeline for the homebuyer tax credit

As soon as possible (definitely by mid-March):

Find a mortgage lender, if you're going to borrow money to buy the home. You can look for the best interest rate by searching Bankrate's rate tables. When you find a suitable lender, get prequalified so you'll know how much you'll be able to borrow. "The first thing they need to do is make sure they can get a mortgage," Garfinkel says. "Otherwise, they're wasting their time, and time is real valuable right now."

He adds that move-up buyers "are going to be in for a rude awakening" if they believe that getting a home loan is the same process that it was a few years ago. "It used to be that just about anyone could get a mortgage. Well, that's just not the case anymore."

Mortgage timelineApril 27April 15March 31Now - mid-MarchApril 30April 2Mid-MarchNow

 

 

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Buyers and refinancers got raises –not

Wages of U.S. workers have been stagnant since the Great Recession in 2007 but the median wage of homebuyers and refinancers has been all over the map. What does that say about the housing market? The median wage of homeowners refinancing their mortgages increased significantly since 2000, according to data analyzed by Corelogic. Buyers also  ... Read more

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