Great news: conventional rates are at 60-yr lows, and now your jumbo buyers can also take advantage of low rates...they've improved significantly!! Call or write for more specifics. And I know that you've been working with a lot of first time homebuyers, so I'm sure you're getting a ton of questions on the First-Time Homebuyer Tax Credit, both its current and "new and improved" versions. Congress is nearing a final vote on the stimulus package which is expected to include changes to this credit, and hopefully will be fully executed this Monday, the 16th. Currently the main differences are: 1. the repayment feature (the proposal eliminates repayment of the credit to all qualified first-time homebuyers); 2. increases the credit from $7500 to $8000, and 3. extends its eligibility period to November 2009. Here's a great overview of the current tax credit: www.federalhousingtaxcredit.com/faq.php. But make sure to check back early next week on the homepage for actual details of the new plan: www.federalhousingtaxcredit.com.

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