THDA offers class for homebuyers

Starting Saturday, the Tennessee Housing Development Agency will begin offering its homebuyer education program online to anyone in Tennessee for $99. The online class covers the ins and outs of buying a home, from insurance to financing to repairs.

“Homebuyers who take this class have a better understanding of the process, they ask smarter questions and they make better informed decisions,” THDA Executive Director Ralph M. Perrey said.

The class consists of online coursework and one-on-one counseling session with a THDA-approved homebuyer education specialist, either in person or on the phone.

“We want to make sure that online participants receive the same level of interaction and individual attention as classroom participants,” said Perrey.

THDA partnered with eHome America in order to develop and implement the online program. Homebuyers interested in enrolling should visit the homebuyer section of GreatChoiceTN.com to find a provider in their county.

Average long-term U.S. mortgage rates fell for a second straight week, with the key 30-year rate slipping below 4 percent.

Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 3.98 percent this week from 4.04 percent a week earlier. The rate on 15-year fixed-rate mortgages eased to 3.17 percent from 3.21 percent.

As in recent weeks, mortgage rates followed the yield on the key 10-year Treasury note, which fell. Bond yields for Treasurys were pushed lower by a rise in bond prices, as investors sought safety in U.S. Treasury bonds amid steep declines in global stock markets. The yield on the 10-year note declined to 2.29 percent Wednesday from 2.33 percent a week earlier. It held steady in trading Thursday morning at 2.29 percent.