$6500 Repeat Homebuyer Tax Credit With Low Mortgage Interest Rates; Is The Tax Credit Still Working?

The $6500 repeat homebuyer tax credit program is still in progress and with low mortgage interest rates there is an excellent environment being created for anyone seeking to buy a new home. Low mortgage rates have been the focus of many who say interest rates shouldn’t be kept at such a low since there could be negative repercussions to the value of the dollar, but these low rates along with the $6500 repeat homebuyer tax credit have given some who are looking into moving from their current home, the opportunity to purchase a house.

Many are finding their current mortgage payment difficult because of the economic strain many have encountered over the last year, but in some cases, the $6500 repeat homebuyer tax credit along with the low rate on interest has given some the chance to buy a new home with lower payments.

However, many feel the $6500 repeat homebuyer tax credit is a waste of money seeing as how it will benefit few people. If someone already owns a home they are essentially given free money to move. There are those who see the $6500 repeat homebuyer tax credit as useless in relation to the tax credit’s original intent of helping the housing market since those taking advantage of the $6500 repeat homebuyer tax credit would still be leaving one house sitting empty if they move.

Is the $6500 repeat homebuyer tax credit useful or is it a waste of money? There are homeowners who have taken advantage of the program, like using the credit to move to another location where a job may have been offered, but overall is the program doing any good? Both sides of the argument feel they have valid claims, but what do you think?