Will First-time Homebuyer Credit Be Extended?

On Tuesday, Democratic Senator Christopher Dodd, Chair of the Senate Banking Committee, and Republican Senator Johnny Isakson agreed that the first-time homebuyer tax credit should be extended through June, 2010. Both see this tax credit as having a stabilizing effect of the housing market and would like to see it extended.

It's any body's guess, of course, whether this expression of extending the credit will make its way into law. The first-time homebuyer's credit is scheduled to expire at the end of this year.