The viability of the mortgage interest deduction has become a hot topic once again as Gary Cohn said his piece on the matter. The mortgage-specific deduction or MID has been hailed as a primary factor in driving home buying and homeownership in the U.S. but the top economic advisor to the President Read more
Treasury Calls for Reform of CFPB Over “Unduly Broad” Powers
“A significant restructuring in the authority and execution of regulatory responsibilities by the CFPB is necessary,” the U.S. Department of Treasury headed by Sec. Steve Mnuchin said in a report submitted to President Trump on June 12.The Treasury Department submitted to Pres. Trump its report Read more
June Is National Homeownership Month, Proclaims Pres. Trump
“This month, we recommit to ensuring that hard-working Americans enjoy a fair chance at becoming homeowners,” President Trump in his proclamation of June 2017 as National Homeownership Month.The President declared June as National Homeownership Month and his commitment to helping Americans Read more
President to Keep Mortgage Interest Deduction, Plan Raises Homeownership Concerns
Finally, the current administration’s tax reform plan is out and aims to preserve the homeownership tax deduction or the mortgage interest deduction.While the MID is safe from the current administration’s chopping block, realtors and builders raise concerns over parts of the proposed reform that Read more
Thanks to POTUS, Mortgage Rates Drop to New 2017 Lows
Mortgage rates hit new record lows this year following President Trump’s remarks over at The Wall Street Journal. His views about the dollar and interest rates pushed bonds higher and the Treasury yield to its lowest level in 2017.Bond prices drive mortgage rates, which follow the movement of Read more
