"To do anything in this world worth doing, we must not stand back shivering and thinking of the cold and danger, but jump in, and scramble through as well as we can." -Sydney Smith

While mortgage rates climbed in December, they have decreased during the first two weeks of January. A combination of factors was favorable for mortgage markets this week. Low inflation, weaker than expected economic growth data, and strong demand for the Treasury auctions all helped mortgage rates move a little lower.

Tips - For first time home buyers with house incomes of $65,000 or less ($75,000 with 3+ persons) that need a little boost in purchasing power (Think Self Employed) - the MCC Mortgage Credit Certificate may be the right move. This NC Bond Program gives a tax credit for 20% of the interest paid in a year up to $2,000 this can be counted as income and make the difference in qualifying your borrower. Remember this is a NC Bond program and it is best to allow 45 days or more for closing. But when income is tight this may be the best answer and Cunningham and Company can help get this loan closed.

Link to NC Housing: http://www.nchfa.com/Homebuyers/HBwhatweoffer.aspx see MCC at the bottom