According to the National Association of Realtors, home resales rose 10% from September.  It was the highest sales level since February, 2007.  This is partly attributable to the first-time buyer tax credit, which was set to expire in November but has now been extended through April 30, 2010.

According to Freddie Mac, interest rates on 30-year mortgages remain below 5%, averaging 4.83%.  Interest rates on 15-year fixed rate mortgages fell to 4.32% this week.  This news, together with the extension of the homebuyer’s tax credit, makes buying a home a smart decision.