Economic Stimulus Package in Perspective

The modified home buyer tax credit and the restoration of last year's high-cost conforming and FHA loan limits of $729,750 could boost 2009 home sales by 450,000, NAR Chief Economist Lawrence Yun estimates. When combined with the historically low mortgage interest rates stemming from NAR-backed actions taken by the Federal Reserve and U.S. Treasury Department earlier this year, the boost in home sales could total 850,000.