Home affordability is better than ever. 30 year fixed mortgage rates dipped under 5% on Tuesday and held steady today. The goverment tax credit of 8 grand for home buyer's who have not purchased a house in the past 3 years is the kicker for most shoppers. This tax credit is set to expire December 1st. Currently there's an income restriction which keeps some people from qualifying. There's new legislation on the table that proposes the tax credit is extended through 2010 and opended up to everyone removing the income restrictions and requirement for applicants to not have bought in the past 3 years.
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