Victory! Congress passes homebuyer tax credit. The Senate and House voted in favor of extending the first-time homebuyer tax credit. The legislation extends, through April 30, an $8,000 first-time homebuyer tax credit and creates a new $6,500 credit for homebuyers who have been in their current residence for the last five years or more.
The Senate unanimously voted Wednesday night (98-0). The House just passed the bill this afternoon (403-12).
President Obama is expected to sign the legislation tomorrow, Friday, November 6.