MBA President David Stevens Talks Mortgage Interest Deduction

  • You guys are great! I’ve been watching you everyday for probably 9 years now and the value you bring is wonderful. I love the new look… but I must say… the music playing DURING the interview is a little distracting. I meant to comment about it on yesterday’s show, but it seemed like the volume was up luder today. Just my two cents.

    Wayne C. Hitt October 19, 2017 4:57 am Reply
  • If it goes away, deal with it! I’d rather keep more of the money I make every pay check through the proposed tax cuts than to wait until four or five months into the following year to get a refund on a MID.

    Ray Blindauer October 19, 2017 5:59 am Reply
  • Common sense will tell us that the millennials are the largest sector of future home buyers we will be seeing in the coming years. The biggest problem many of them have is saving money for down payments as most are facing high student loan debt. Increasing their standard deductions will put more money in their savings thus solving that problem. As for the seasoned homeowners such as I, I get very little Mortgage interest deduction because when rates were the lowest I refinanced into a very short term very low interest loan so I don’t pay enough interest to make a difference.

    Phil Cunningham October 19, 2017 7:07 am Reply
    • Phil, I think you need to do the math on this. While overall this should benefit married filers, singles filers still stand to lose. In states where home prices are high, the standard deduction won’t cover the interest and any potential MI. I’m just not sure this is the solution to our problems.

      Michele October 23, 2017 7:41 am Reply
  • I think the MBA has it right. Why not be open to options as long as they help homebuyers and homeowners? whether it be health care, taxes, etc., it puzzles me that it seems everyone wants change, but nobody wants to change anything.

    John Smit October 19, 2017 8:27 am Reply
  • Well said, David. For the past several many years, the MID has really not meant anything to the median income family buyer. In fact the median income family buyer may have a better tax situation just taking the standard deduction. It is the investor who owns more than one property who is really benefiting from the mortgage interest deduction (MID). Quite frankly, I would prefer a value added tax to an income tax. It is really more progressive. The person who buys the more expensive car pays the higher tax. The person who buys a yacht pays a tax.

    Bill Elliott, CMB, AMP October 19, 2017 9:00 am Reply
  • Elimination of the MID will impact incentive to purchase for many that make up an important housing demographic in the overall housing market period. More money in the pockets of consumers good,eliminating the strings attached to realizing those dollars might not be so good particularly for housing. If the elimination of the MID is realized let’s hope the newly found funds are not used for a few more nights out at the local buffet.

    John Deleva October 19, 2017 11:52 am Reply
  • geez guys – I can’t hear the speaker through the head banging background. I’ll have a few more cups of coffee and try again.

    Mark Strickland October 20, 2017 4:17 am Reply
    • I agree with Mark. I stopped the video because the music was so distracting. I will try again later.

      S Stephens October 20, 2017 12:48 pm Reply

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