If you are a vacation home landlord or thinking of becoming one, it is time to review the tax rules on rental income from second homes. First, the good news: One of the tax code’s best freebies allows homeowners who rent out their property for 14 or fewer days a year to pocket the rental […]

Mortgage rates in the U.S. have hit record lows for six straight weeks, due to Federal Reserve efforts to reduce rates in order to stimulate the economy. But without the mortgage interest deduction, the rate would likely be closer to 3.3%. Based on Georgia State University professor Andrew Hanson’s findings, between 9% and 17% of the value of the […]

Record-low interest rates are a boon for home buyers and for homeowners seeking to refinance. But low appraisals are making it difficult or even impossible for some borrowers to take advantage.  About one-third of real-estate agents reported that low appraisals had resulted in the cancellation, delay or renegotiation of a purchase.  There are, however, steps you […]

Housing prices across the U.S. continued falling in March but not as sharply as earlier months, according to the S&P/Case-Shiller home-price index. Average sale prices of single-family homes fell 1.9% from a year ago. It is a sign of the housing slump’s severity that a flat index is something to cheer about. Five cities—Atlanta, Chicago, Las […]