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Mortgage News Daily

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Think Tank Recommends Reducing Mortgage Interest Deduction
Posted to: Daily Newsletter
Friday, December 07, 2012 4:14 PM

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Dec 7, 2012 12:26PM

Think Tank Recommends Reducing Mortgage Interest Deduction

The Brookings Institution has published two articles on tax reform, one of which should be of particular interest to MND readers. The two briefs are part of the progressive think tank's Remaking Federalism/Renewing the Economy series. One calls on Congress to make permanent and expand the critical research and experimentation (R&E) tax credit; the second recommends curtailing "the massive mortgage interest deduction." The time has come, Brookings says, to reform the mortgage interest deduction...

Dec 7, 2012 3:14PM

More Ideas for Rebuilding the Secondary Mortgage Market

The Center for American Progress has released a letter it, along with three other groups sent to the Federal Housing Finance Agency (FHFA) regarding its plan to create a new securitization platform for the secondary mortgage market . The letter, sent on December 3, was in response to FHFA's request for comments on the plan and was co-signed by the Consumer Federation of America, the National Council of LaRaza and the National Housing Conference collectively referred to as the Mortgage Finance Working...


Micro News

2:41 PM:

Scattered Reprices As Leakage Continues

1:43 PM:

Slow Leak Since Into PM Hours, Reprice Risk Still Limited

10:06 AM:

ECON: Consumer Sentiment Much Weaker Than Expected

9:43 AM:

Relatively Contained Post-NFP Selling, Mid-Range Indecision

8:46 AM:

ECON: NFP Much Stronger Than Expected, But BLS Says No Impact From Sandy

3:10 PM:

Trying To Dig In At Lows, But Negative Reprices Remain Probable

2:33 PM:

Fed MBS Purchases Show Shift Toward 3.5 Coupons In Latest Report

2:06 PM:

Selling Trend Crosses The Line. Negative Reprice Risk Increasing

Around the Web

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Boehner: No 'Fiscal Cliff' Progress

Dodd-Frank & Your Mortgage

Fiscal Cliff's Impact on the Mortgage Industry


Today's Comments

Larry Thompson

"Clay Brown is absolutely correct. Additionally, costs are rising for lenders in that they (we) are having to add non-revenue producing staff for the simple..."

Clay Brown

"The gap between primary and secondary pricing has widened due to Dodd Frank!! Thousands of MLO's individually pricing loans used to be able to keep..."

Rod Martino

"Having Wal-Mart provide mortgage financing sounds like a novel idea, however I would imagine that there would be only a certain amount of eligible borrower..."

Today's Q&A

"How much do I need at the closing table with concessions?"

"What are the Mortgage Prepayment Penalty Laws in West Virginia?"

"Can I refinance A FHA loan that an LTV above 125%? Is there an unlimited LTV program?"


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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.16%
  • |
  • 15 Yr FRM 3.31%
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  • Jumbo 30 Year Fixed 4.05%
MBS Prices:
  • 30YR FNMA 4.5 107-27 (-0-01)
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  • 30YR FNMA 5.0 110-08 (-0-01)
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  • 30YR FNMA 5.5 111-04 (-0-00)
Recent Housing Data:
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  • Refinance Index -3.98%
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  • FHFA Home Price Index 0.67%