$25,000 Home-Buying Credit: Will It Boost or Bust Real Estate?

In this episode of "Today in Mortgages," we talk about $25,000 tax credits proposed by the Harris campaign and whether we think they will help or hurt. We discuss this and Fox's article "Waiting for mortgage rates to fall? Why Experts say it won't make a difference". The article believes that lowering rates will make buying more affordable for only a few months; prices will climb because of demand. The other point we wanted to discuss comes from a second article in MPA Mag Today "Harris proposed $25,000 tax credit to address rising housing cost". This is just a proposal at the moment, and we've seen other president's offer tax credits, but buyers really need help with down payment and closing costs, not so much tax credits. Some criticism says that the credits could drive up prices even more with this increased buying power but we would encourage buyers not to wait around for a proposed tax credit. Get after it while rates are coming down, but prices haven't risen. This is how we should be communicating to our borrowers! TODAY!Listen in to learn about this and more!See more at TodayInMortgages.comWant to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here. Learn more about Network Funding on our parent site. Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.