From Bloomberg:
U.S. Senate leaders moved closer to agreement to replace an expiring $8,000 tax credit for first- time homebuyerswith a smaller one that expands access to more borrowers, two people familiar with matter said. The deal would reduce the size of the tax credit to 10 percent of the sale’s price, capped at $7,290. The credit would be available on home purchases that are under contract by April 30. Borrowers would have 60 days more to close the sale.
