Outlook for 2011

All signs point to 2011 being a better year. This week the stock market hit a two-year high and CNN reports a hiring boom for 2011.

Refinances are just about done. Interest rates are sliding higher, so the refinances will slow down.

As a reminder, this year PMI is tax deductible. About 85% of loans done in 2010 were FHA, which had PMI. So check with your accountant if you bought a house last year for your taxes for 2011. Buy a house this year and take the writeoff!

I also want to remind you that most banks have increased the minimum credit score to 640 which is not helping bringing in some first time buyers that have not cared for their credit as well as they should have in the past and it is reflected in their scores now when they want to buy.


It is still a good time to buy!