HSH.com Poll: Overwhelming Support for Another Extension of the Home Buyer Tax Credit

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As lawmakers mull a second extension of the federal home buyer tax credit, readers of the HSH.com daily blog express clear support for such an extension in the mortgage site's latest online poll.

An recent poll on HSH.com's daily mortgage news blog reveals that potential home buyers overwhelmingly support a second extension of the home buyer tax credit.

While lawmakers have yet to make a decision on whether to extend the federal home buyer tax credit for a second time, HSH.com visitors have spoken loud and clear: 92 percent say they're depending on another extension of the home buyer tax credit to help them get the homes they want and need.

Six percent of poll respondents thought it was time for the home buyer tax credit to end, and only 2 percent expressed indifference to the prospect of an extension. Full analysis of the poll can be found on the HSH.com blog post, Poll Results: Extend the Home Buyer Tax Credit Again!

"This poll obviously touched a nerve with our readers, because it is by far the most popular poll we've ever run," said Tim Manni, author of HSH.com's daily blog. "The question remains, are lawmakers listening?"

With the tax credit slated for expiration at the end of April 2010--contracts must be signed by April 30, and borrowers must close their deals by June 30--the approaching deadline seems to be increasing home buying activity.

Pending home sales rose 8.2 percent in February, according the National Association of Realtors (NAR), "potentially signaling a second surge of home sales in response to the home buyer tax credit." As recently as last month, NAR's chief economist was concerned that the surge in home sales just prior to the original expiration of the tax credit would not be repeated this time around. That beneficial bounce in sales was one of the reasons the tax credit was extended the first time.

HSH.com plans to keep this poll up and running until the expiry or renewal of the home buyer tax credit.

HSH Associates has tracked the nation's mortgage market for home buyers, homeowners and industry participants since 1979. HSH's deep and broad surveys of rates and terms for first mortgages, home equity loans, home equity lines of credit and other consumer loans have been conducted on a weekly basis for as long as 30 years, and the company has long been an authoritative source for current loan pricing information. Its primary Web site, HSH.com, is among the Internet's leading portals for financial information and expertise.

For further information, please contact:

Keith T. Gumbinger, Vice President

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