Costs, Deadlines -- Where Now?

Where do we go from here? As usual, that is a good question. The money saving First Time Home Buyer and Existing Home Buyer Tax Credits are due to expire soon. Contracts MUST be signed by April 30th, and closings must take place by the end of June. If these programs "go away" then buyers will find it more expensive to move ahead with their real estate plans. And, the FHA initial mortgage insurance premium (MIP) may be rising soon to 2.25%, from 1.75%. It is even possible that the 3.5% down payment required for FHA may increase soon. Additionally, the Government will soon terminate some of its mortgage market support programs. What does all of this mean? Anyone "sitting on the fence" about making a move in the real estate market needs to seriously consider their options. Administrative costs in general and interest rates may be in an upward trend, soon.