Home affordability reached an all-time high in 2010′s last quarter. Unfortunately for home buyers, it’s been a different story since, however.

For certain members of the military, and for certain federal employees, there’s just 2 months remaining to get use the federal home buyer tax credit.

Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.

Mortgage rates could move higher beginning tomorrow morning. The Bureau of Labor Statistics releases its February jobs report at 8:30 AM ET.

December’s Case-Shiller Index showed major devaluations nationwide. As compared to December 2009, on a year-over-year basis, home values fell in 18 of the Case Shiller Index’s 20 tracked markets, and the U.S. National Index dropped 4 percent overall. The retreat puts December’s home values at similar levels as compared to early-2003.

After a strong run to close out 2010, the market for home resales softened a bit in January.

Mortgage rates dropped last week, but, this week, there appears to be more reasons for rates to rise than fall. Plan accordingly.

In its monthly New Home Sales release, the U.S. Department of Commerce showed a 13 percent drop-off in annualized new construction sales between the months of December and January. It’s the biggest one-month drop in New Home Sales since May 2010.

Home resales rose another 2.7 percent last month, according to the National Association of REALTORS® monthly Existing Home Sales report.

Inflation fears are harming home buyers. The Cost of Living has reached a record level, surpassing the former peak set in July 2008. Mortgage rates would be rising more right now if not for the Middle East unrest.