Wednesday, August 25, 2010

Today's Killer Mortgage Rates Beat Tax-Credit $25,000!

Homebuyers today can potentially save several times more money in interest costs than buyers who took out a mortgage in early April and claimed an $8,000 homebuyer tax credit.  Someone taking out a $240,000 mortgage today at a 4.42% (and right now they're at 4.25%) interest rate could save $33,287 in interest costs over the life of a 30-year loan.  That's four times the $8,000 credit used by a first-time homebuyer who financed at 5.21% in early April.  

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