A popular U.S. tax credit for first-time homebuyers would be extended until the end of April and expanded to cover repeat buyers under a deal reached by key senators, sources familiar with the plan said on Wednesday.
The sources said the tax credit would remain at its current $8,000 for first-time buyers, while a new credit for repeat buyers of a primary residence who have been in their house for at least five years would receive a credit of $6,500.
Senate Banking Committee Chairman Christopher Dodd said on Tuesday that a deal had been reached, but he declined to provide details. It was still unclear when the Senate might take up the measure.
