Will Bush's Tax Plan Save the Real Estate Market?
Congressional leaders announced a deal with the White House Thursday on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
More importantly, to address the mortgage crisis, the package also raises the limits on Federal Housing Administration loans and home mortgages that Fannie Mae and Freddie Mac can purchase to as high as $725,000 in high-cost areas. Those are considerable boosts over the current FHA limit of $362,000 and the $417,000 cap for Fannie Mae and Freddie Mac's loan purchases. This can be a major development in the recovery of the housing markets. It could be about that time to get into the housing stocks such as Toll Brothers or Centex.
More importantly, to address the mortgage crisis, the package also raises the limits on Federal Housing Administration loans and home mortgages that Fannie Mae and Freddie Mac can purchase to as high as $725,000 in high-cost areas. Those are considerable boosts over the current FHA limit of $362,000 and the $417,000 cap for Fannie Mae and Freddie Mac's loan purchases. This can be a major development in the recovery of the housing markets. It could be about that time to get into the housing stocks such as Toll Brothers or Centex.
Labels: economic stimulus, Fannie Mae, FNM, FRE, Freddie Mac, Tax deal, TOL, Toll Brothers Inc.
posted by Stock Administrator @ 2:36 PM
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