A bipartisan group of senators announced a deal Thursday to extend thefirst-time homebuyer's tax credit set to expire within weeks.

Under the agreement struck by Sens. Chris Dodd (D-Conn.) and Johnny Isakson (R-Ga.), the credit will last until the end of April and can be applied to homes worth up to $800,000. Dodd and Isakson said that as many as 70 percent of Americans will be eligible for it. The home credit's backers, which include Senate Majority Leader Harry Reid (D-Nev.), have said that it can help the economy recover and has already led to the jump in home sales seen around the country in recent months.Isakson called the provision a "once-in-a-lifetime" credit that can "bring the housing market back to some sense of vitality...