Mortgage rates dipped this week, but homebuyers are waiting for a bigger cut before entering the expensive housing market.
Many buyers, especially first-timers, need a break in housing costs. National home prices grew 6% year-over-year in January, the S&P CoreLogic Case-Shiller reported earlier this week. U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 20, 2024. The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates continued inflation pressures. While Fed Chair Jay Powell said monetary policy could begin easing ‘at some point this year,’ he failed to give an estimated timing.
Imagine you have $50,000 to give to your daughter and her husband for a down payment on their new home. The question is, will you owe gift taxes because of your generous gesture? Despite popular framing, the federal gift and estate taxes only apply to very wealthy households. Unless you have approximately $13 million to The post I Want to Give My Daughter and Her Husband $50,000 For a Down Payment. Do I Have to Worry About the Gift Tax? appeared first on SmartReads by SmartAsset.
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