SmartMoney Blogs

Real-Time Advice
Our real-time advice on how market shifts and news impact you and your money

Payroll Tax Cut May Hurt Homebuyers

Consumers currently shopping for a mortgage may find that last year’s extension of the payroll tax cut hurts, rather than helps, their finances.

The two-month, 2% cut could keep up to $367 in consumers’ paychecks, depending on their income; or $2,202 if Congress extends it through 2012 as expected. But soon-to-be-homeowners could be on the hook for much more as lenders begin to work in an extra 0.10% fee on Fannie Mae- and Freddie Mac-backed loans, meant to help fund the cut. CBS, which recently investigated the new charge, estimates it could add $15 a month to a $200,000 mortgage, for an extra $5,400 total over the life of a 30-year loan.

That’s not pocket change, but the fee isn’t particularly burdensome either, considering that mortgage rates are currently near record lows, says Keith Gumbinger, vice president at mortgage data firm HSH Associates. “It’s probably the least-painful time in mortgage history for this to happen,” he says. According to HSH, a 30-year fixed-rate mortgage currently averages 4.18%, down from 4.28% last week. 15-year loans are 3.46%, down from 3.55% last week. And it’s likely those borrowers will be able to write off some or all of the cost of the fee on their tax returns in future years, says Abe Schneier of the American Institute of Certified Public Accountants.

Consumers don’t have much leeway to avoid the fee. “If you’re going with FHA financing, you’re not going to have much of a choice,” Schneier says. Although it doesn’t take effect until April 1, consumers locking in a rate now for the next 60 days are likely to see it in estimates. Banks don’t often sell jumbo and adjustable-rate mortgages to Fannie and Freddie – so they may not be subject to the fee — but costs for those products tend to be higher over the life of the loan, Gumbinger says. The same holds true for Federal Housing Administration loans. “You may avoid that particular fee, but you don’t avoid the [overall higher] cost,” he says. Avoiding the charge may become more important down the line if mortgage rates rise or Congress decides to increase the fee, but for now, he says, the best savings advice is still to shop around for the best rate.


We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (1 of 1)

View all Comments »
    • By WebOsPublisher

      android menu icons – Stack Overflow
      Stack Exchange
      log in
      careers 2.0
      Stack Overflow
      Ask Question
      android menu icons
      up vote
      down vote
      In my application the menu looks like this
      I want to change icons and put + icon for add item the saerch icon for search….
      like this
      I know that i must put the pictures in drawable folder and use this code
      android:icon=”@drawable/icon” /> but Where can i find this icons and download them?
      share|improve this question
      Dec 31 ’11 at 13:29
      78% accept rate
      4 Answers
      up vote
      down vote
      the best Icon Finder Site which i use always to get icons… all the best.
      share|improve this answer
      Dec 31 ’11 at 14:29
      up vote
      down vote
      See this Link
      Android Icons
      Android Icons
      share|improve this answer
      Dec 31 ’11 at 13:35
      up vote
      down vote
      They can be found in the source. Have a look at this duplicate question.
      From that question:
      Warning: Because these resources can change between platform versions, you should not reference these icons using the Android platform resource IDs (i.e. menu icons under android.R.drawable).
      share|improve this answer
      Dec 31 ’11 at 13:38
      Nick Nikolaou
      up vote
      down vote
      Actually you don’t need to download them you just use the android drawable :
      android:icon=”@android:drawable/ic_menu_add” />
      android:icon=”@android:drawable/ic_menu_gallery” />
      android:icon=”@android:drawable/ic_menu_search” />
      android:icon=”@android:drawable/ic_menu_preferences” />
      share|improve this answer
      Dec 31 ’11 at 13:38
      yes, you need !!!… – Selvin Dec 31 ’11 at 14:45
      @Selvin actually I don’t I suggest you read the warning again. This warning is to warn you that you are not controlling your app design by referencing directly android resources but in (many) cases you DON’T want to control your app design you want it to "respect" the theme that the user is currently running . For example a developer running an app compatible 1.6+ is gonna force same icons to all the android version on the other hand referencing android resources will use the current android version icons which I believe to be more ergonomic . – Rabgs Dec 31 ’11 at 15:22
      Your Answer
      draft saved
      draft discarded
      log in
      required, but never shown
      Home Page
      By posting your answer, you agree to the
      privacy policy and
      terms of service.
      Not the answer you’re looking for?
      Browse other questions tagged android
      or ask your own question.
      Hello World!
      This is a collaboratively edited question and answer site for professional and enthusiast programmers. It’s 100% free, no registration required.
      about » faq »
      android × 261474
      11 months ago
      1794 times
      11 months ago
      Community Bulletin
      Meet the new additions to the Stack Exchange clan
      width: 190px;
      height: 250px;
      overflow: hidden;
      background: url(‘’);
      padding: 0 15px 0 15px;

      margin-top: 60px;

      #newsletter-ad ul
      margin: 1em 0 1em 1.5em;

      #newsletter-ad ul li
      margin-bottom: 5px;

      text-align: center;

      margin-top: 10px;
      text-align: center;

      width: 200px;

      Get the weekly newsletter!
      Top questions and answers
      Important announcements
      Unanswered questions
      see an example newsletter
      By subscribing, you agree to the
      privacy policy and
      terms of service.
      Standard Android menu icons, for example refresh
      Standard Android menu icons, for example refresh
      How to add icons to the android context menu?
      Does Android encourage reusing their Menu-Icons? Where to get them all?
      Local icons in Android Options Menu stretch to fill menu item, obscure Title
      android color menu icons
      Icons in menu are smaller than they should be
      Android menu icons
      Android Icons: Home Screen vs Applications Menu
      Open source-friendly Android menu icons?
      How to select standard Android menu icons?
      Android Menu Bar – Symmetrical Icons
      how to show icons in context menu in android
      Android New Updated Market App Menu Icons
      Customized the icons of Menu items
      Is it doable to customize(adding Icons) the expanded menu in android
      how to put icons menu on single line on android with xml
      Problems with android icons in Menu
      android menu icons are not displaying when the api level is above 10
      Are there any guidelines to android landing screen menu icons?
      Android: where to find xhdpi menu icons?
      Using ic_menu* icons from Android SDK
      GridView Menu with icons in Android 2.3
      Kindle fire menu icons
      android 2.3.3 apps menu list icons
      Menu item icons no longer display on Android Emulator
      question feed
      about |
      faq |
      blog |
      chat |
      data |
      legal |
      privacy policy |
      jobs |
      advertising info |
      mobile |
      contact us
      | feedback
      ■ api/apps
      ■ careers 2.0
      ■ meta
      ■ area 51
      ■ webapps
      ■ gaming
      ■ ubuntu
      ■ webmasters
      ■ cooking
      ■ game development
      ■ math
      ■ photography
      ■ stats
      ■ tex
      ■ english
      ■ theoretical cs
      ■ programmers
      ■ unix
      ■ apple
      ■ wordpress
      ■ physics
      ■ home improvement
      ■ gis
      ■ electrical engineering
      ■ android
      ■ security
      ■ bicycles
      ■ dba
      ■ drupal
      ■ sharepoint
      ■ scifi $ fantasy
      ■ user experience
      ■ skeptics
      ■ rpg
      ■ judaism
      ■ mathematica
      rev 2012.12.7.545
      site design / logo © 2012 stack exchange inc;
      user contributions licensed under cc-wiki with attribution required
      Stack Overflow works best with JavaScript enabled

About Real-Time Advice

  • How breaking news — in the markets, Washington, and around the world — affects you and your money. Have a question about how current events may change your financial future? Email us at