Mortgage rates in the U.S. have hit record lows for six straight weeks, due to Federal Reserve efforts to reduce rates in order to stimulate the economy. But without the mortgage interest deduction, the rate would likely be closer to 3.3%. Based on Georgia State University professor Andrew Hanson’s findings, between 9% and 17% of the value of the mortgage interest deduction is captured by lenders in the form of higher interest rates rather than homeowners in the form of savings.
Why Mortgage Rates Should Be Lower
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