January 8th, 2010
Friday Scoop on Credit Karma & Housing Market News
New home purchases slowed down at the end of 2009 as November slumped 16% in fewer signed sales contracts compared to October. This is the first decline in sales after nine months of gains, and far surpasses analysts’ expectations of a 2% decrease. Since the deadline for the Homebuyer’s Tax Credit has been extended to the end of June from the original deadline of December 1, 2009, prospective home buyers took a breather in November from rushing to sign contracts.
Uncle Sam anticipates that the extended and expanded Homebuyer Tax Credit, which now includes first-time homebuyers as well as returning homebuyers, will generate as much housing market activity this spring as the program did in the fall of 2009. Read on for more housing market news as well as Credit Karma updates.
Credit Karma in the News
- Women on the Web mentions Credit Karma in the article, “An action plan for 2010,” as a resource to double-check your credit.
- ABC15 News advises consumers to be smart shoppers and don’t pay to clean up your credit score, and encourages readers to check out Credit Karma.
- “If you are able to improve your credit score from good to excellent, you open up a world of option,” said Credit Karma CEO Kenneth Lin in the LA Times article, “New credit-card rules add accountability.
- Road to the Real World blog does a website review of Credit Karma.
- Credit Karma predicts that spending will increase and savings will slow on WalletPop’s top five credit card predictions for 2010. “Many consumers delayed purchases in 2009. Many want good news, and I think with consumer confidence on the way up, 2010 will show increasing consumer spending and less saving,” says CEO Kenneth Lin.
Home & Mortagage News
- The Chicago-Sun Times proclaims that 2010 is good for renters.
- Here’s a few reasons to be a renter right now from the blog Bargaineering and why he dislikes real estate as an investment.
- Rich Credit Debt Loan explains the dangers of long term and interest only loans for homes.
- As mortgage rates steadily increases above 5%, the LA Times reports on how rising mortgage rates will test housing market.
- What are experts’ predictions for 2010’s housing market? The Washington Post forecasts what could follows a decade of boom and bust.
