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Mortgage Rates 04-12-2018 Lender411

By Chantelle Stein Updated on 4/12/2018

One of the key points being discussed regarding the latest Tax Cut passed by Congress December 2017, is the effect on housing related choices that homeowners make. Frank Nothaft, CoreLogic's chief economist, brings up how the bill changes tax cuts for many filers. “Persons with big mortgages, increasingly necessary for those buying on both costs, may lose some previous benefits from the mortgage interest rate deductions. The MID is capped for first mortgages over $750,000, and the deductibility for some home equity loans and second mortgages is gone. The deduction for property taxes might be affected with the new cap on the total of state and local taxes”.

Seeming, what will determine whether the demand for shelter and the homeownership rate, fall or remain about the same, depends on whether income effect or the price effect that prevails.

 

 

Bookmark this page for mortgage rates: 

 

• 30-year (FRM) rates at 4.49% (+0.02%)

• 15-year (FRM) rates at 3.88% (+0.02%)

• FHA 30-year Fixed rates at 4.25% (0.00%)

• Jumbo 30-year Fixed rates at 4.50% (+0.02%)

• 5/1 ARM rates at 3.66% (0.00%)

About The Author:
Chantelle Stein
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